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riversedge

(69,731 posts)
Thu Aug 25, 2016, 12:24 PM Aug 2016

Stock traders have been watching out for Janet Yellen all week, but they were blindsided by Hillary

Source: cnbc.com




Markets watching out for Janet Yellen on Thursday, and now also Hillary Clinton
Patti Domm | @pattidomm
3 Hours AgoCNBC.com
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5 Hours Ago|03:17

Stock traders have been watching out for Janet Yellen all week, but they were blindsided by Hillary Clinton.

Fed watching should continue Thursday, as traders digest durable goods and jobless claims data ahead of Friday's Jackson Hole speech by the Fed chair. But they will also be licking their wounds after Democrat Clinton punctured the health-care sector with one powerful tweet Wednesday afternoon. The IBB Nasdaq Biotech ETF fell 3.4 percent, after Clinton tweeted and issued a statement saying that there's no justification for the high prices Mylan is charging for EpiPens.

Mylan has been under fire for the dramatic price hikes in EpiPens, livesaving devices for people with severe allergies. Prices have gone from $100 in 2008 to more than $600 for some customers.
....................

"Hillary took the air out of that sector and that hit other momentum names," said Scott Redler, chief strategist at T3Live.com. It's not the first time. Last year, on Sept. 21, Clinton tweeted about price gouging, after revelations about astronomical price hikes by Martin Shkreli's Turing Pharmaceuticals. That sent the popular IBB biotech ETF down about 20 percent in just a few weeks last fall, and the IBB bottomed with a near 33 percent decline by February...............

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Read more: http://www.cnbc.com/2016/08/24/markets-watching-out-for-janet-yellen-on-thursday-and-now-also-hillary-clinton.html

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Stock traders have been watching out for Janet Yellen all week, but they were blindsided by Hillary (Original Post) riversedge Aug 2016 OP
Thank you, Hillary! TexasMommaWithAHat Aug 2016 #1
She put those fuckers on notice. "We ain't having none of that after January". GOLGO 13 Aug 2016 #2
:-) riversedge Aug 2016 #7
Unless we get the GOP out of congress, it won't matter ConservativeDemocrat Aug 2016 #10
Smile. Hortensis Aug 2016 #3
why on this flat earth would that be considered "blindsiding?" ChairmanAgnostic Aug 2016 #4
While this MAY have been a factor, it's a small one. Several health insurance companies have spooky3 Aug 2016 #5
The $600 price is wholesale... IthinkThereforeIAM Aug 2016 #6
That is actually crazy. AngryAmish Aug 2016 #12
Yep, it is a "Pay it or Else" situation... IthinkThereforeIAM Aug 2016 #13
not LBN it is an analysis/opinion piece nt msongs Aug 2016 #8
Great, great issue to focus on! Has many aspects: fairness, the .1% and corporations ripping people Akamai Aug 2016 #9
If stock traders didn't see this coming then it is on them for not seeing the result. LiberalFighter Aug 2016 #11
There are generic autoinjectors out there TexasBushwhacker Aug 2016 #14
Yellen is several orders of magnitude a bigger deal than HRC for traders Lucky Luciano Aug 2016 #15

ConservativeDemocrat

(2,720 posts)
10. Unless we get the GOP out of congress, it won't matter
Thu Aug 25, 2016, 02:27 PM
Aug 2016

The President has only limited authority to make direct market moves. Otherwise, I trust Obama would already be on this.

- C.D. Proud Member of the Reality Based Community

ChairmanAgnostic

(28,017 posts)
4. why on this flat earth would that be considered "blindsiding?"
Thu Aug 25, 2016, 12:36 PM
Aug 2016

Immoral, unethical, greedy, and possibly illegal behavior is to be scorned and eradicated, and not be the basis for claims of blind-siding.

One good thing about EpiPens and other highly inflated drug costs. it makes it ever more likely that some form of universal health care is on our horizon.

spooky3

(34,304 posts)
5. While this MAY have been a factor, it's a small one. Several health insurance companies have
Thu Aug 25, 2016, 12:41 PM
Aug 2016

done worse this year than they expected, allegedly due to not making enough $ on Obamacare exchange plans. So health ins. stocks have done badly too. Part of this is because the Republicans in Congress have not provided the funding that Obamacare specified.

Those CNBC talking heads, like financial "experts" in other places, often talk out of their ***es. They are notoriously bad (and contradictory) at predicting and explaining things. And they lean GOP.

IthinkThereforeIAM

(3,072 posts)
6. The $600 price is wholesale...
Thu Aug 25, 2016, 12:45 PM
Aug 2016

... I read last night. I had seen quotes of $1000 for actual costs of the EpiPen.
 

AngryAmish

(25,704 posts)
12. That is actually crazy.
Thu Aug 25, 2016, 07:36 PM
Aug 2016

A neighbor had a little girl desperately allergic to peanuts. And kids are slobs. The kids play up and down the block. So they handed out epipens to the five houses where kids run in and out of.

They just wanted us to save her life, if need be. Five hundred bucks is cheap. Five grand is an order of magnitude more.

What dogs hit are those people selling it.

IthinkThereforeIAM

(3,072 posts)
13. Yep, it is a "Pay it or Else" situation...
Thu Aug 25, 2016, 08:07 PM
Aug 2016

... my ex-wife is allergic to bee stings, so we always kept in mind the shortest route to an emergency room when in the outdoors, especially up at the cabin, it was a half hour straight shot north to Watertown, SD.

PS: CBS News reported on it this evening, the wholesale cost of the EpiPen is $630+

 

Akamai

(1,779 posts)
9. Great, great issue to focus on! Has many aspects: fairness, the .1% and corporations ripping people
Thu Aug 25, 2016, 01:36 PM
Aug 2016

off with impunity, importance of health, reducing fear and uncertainty, lack of appropriate regulatory oversight, inability for the government to bargain for drug prices, our destructive patent protection laws, political contributions by big pharma, etc., etc.

Great for Hillary!!!!

TexasBushwhacker

(20,044 posts)
14. There are generic autoinjectors out there
Fri Aug 26, 2016, 04:57 PM
Aug 2016

I have no doubt that Mylan has done everything they can to make doctors prescribe EpiPen and not allow generic substitutions, but a generic is available in 2 strengths, same as Epipen. It's called Adrenaclick.

http://m.goodrx.com/epinephrine

Lucky Luciano

(11,242 posts)
15. Yellen is several orders of magnitude a bigger deal than HRC for traders
Sat Aug 27, 2016, 12:04 PM
Aug 2016

...except for very specialized stock traders in healthcare stocks.

Much much more to trading than stocks.

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