Healthcare and drugmaker stocks fell as President-Elect Donald Trump made critical comments about pharmaceutical pricing this morning.
The Indices turned lower after Trump suggested changes to how America pays for its prescription drugs. Mylan N.V. (NASDAQ:MYL), Pfizer Inc. (NYSE:PFE) and Novartis AG (NYSE:NVS) have led the declines.
Trump's critical comments of drugmakers are the latest salvo from the president-elect to target specific industries that have roiled equities.
Investors were also looking to Trump’s first press conference since July for details on the timing and scope of planned policies from infrastructure spending to trade pacts that will set the tone for financial markets in 2017.
Having been born and raised in Great Britain, I occasionally look at the British newspapers for a different viewpoint on world events. I was recently surveying some of the British newspapers for news on Brexit when I came across an interesting article on research that is being done in Great Britain on Pfizer's famous blue pill.
Hello MarketClub members everywhere! Today I'm looking at three stocks that are all connected to the healthcare and big pharma industries. All three have one thing in common, they all triggered red weekly Trade Triangles yesterday.
Here are the three stocks that I will be analyzing today.
Today, I'm going to be looking at 2 strong sectors amongst my 9 sector group that I watch on a constant basis. The 9 sectors I watch are the consumer, service, healthcare, energy, financial, technology, industrial, materials and utility sectors.
As America ages, healthcare is going to be an important issue. How companies approach this is going to make a big difference to their bottom line.
The new Affordable Care Act, which is slowly being implemented, is another dimension that will have to be factored into the future. How companies adapt and make money in the future may have more to do with how they do business, rather than the drugs they are pushing.
Today, I'll be looking at four stocks, two that are in strong bullish trends according to the Trade Triangle technology, and two that are in downtrends.
From the long side based on the Trade Triangle technology:
Abbott Laboratories (NYSE:ABT)
Johnson & Johnson (NYSE:JNJ)