Back to top

Image: Bigstock

Stock Market Roundup Dec. 7: Stocks Gain Despite Biotech Sell-Off

Read MoreHide Full Article

The major indexes were up across the board on Wednesday, despite a massive sell-off in the biotechnology sector initiated by a new promise from President-elect Trump that he will be targeting drug price hikes. Japan’s SoftBank SFTBY and Sprint S were also up on some Trump-based news, while iPhone maker Apple AAPL) reported some good news.

Zacks Rank #1 (Strong Buy) Biggest Movers

Value: Valeo SA VLEEY +4.95%

Growth: Bob Evans Farms BOBE +6.97%

Momentum: BOBE

VGM: BOBE

Income: Western Digital Corp. (WDC - Free Report) +7.92%

Major Indexes

DOW: 19,549.62 / 297.84 / 1.55%

NASDAQ: 5,393.76 / 60.76 / 1.14%

S&P 500: 2,241.35 / 29.12 / 1.32%

Top Headlines

Apple Music Achieves 20 Million Paying Subscribers

Apple’s SVP of Internet Software and Products Eddy Cue told Billboard that the company’s highly successful music streaming platform Apple Music has hit 20 million paying subscribers.

Trump Vows to Slash Drug Prices, Sends Biotech Stocks Lower

Shares of the iShares Nasdaq Biotechnology ETF IBB were down more than 3.6% in morning trading Wednesday following a new warning from President-elect Donald Trump that he will indeed be targeting high drug prices.

SoftBank and Sprint Soaring on Trump-backed Investment Plan

Shares of Japanese telecom giant SoftBank gained more than 5% in morning trading Wednesday after CEO Masayoshi Son promised to invest $50 billion in the United States and create 50,000 new jobs. Shares of Sprint, which is 82%-owned by SoftBank, were also up big by midday.

Stocks that Aren't in the News. Yet.

You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015 with a stellar average gain of +26% per year. See these high-potential stocks free >>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Western Digital Corporation (WDC) - free report >>