Drug Stocks Implode Because President Suggests Pricing Change
Drug Stocks Are Falling Because Trump’s Next Move on Pricing Could Be Trouble
Stocks of pharmaceutical companies are falling because investors are worried that the Trump administration’s war to rein in drug prices is just heating up—and that big pharma could be the next target.
Early Thursday, the Trump administration acknowledged that it was scrapping a plan to eliminate rebates that drugmakers pay to pharmacy-benefit managers, companies that negotiate prices for medicines on behalf of buyers such as insurance companies.
barrons.com/drug-stocks-fall-fear-trump
An economy gone ‘mad?’ The Fed is going to cut interest rates despite record stock prices, low unemployment
It’s a mad, mad, mad, mad world. Or so one might believe looking at the U.S. economic picture.
Consider: Stocks are hitting record highs and layoffs and unemployment are at 50-year lows. Yet the Federal Reserve is prepared to cut interest rates soon because it’s worried about the economy.
Such it is in the era of Trump. The president, who’s demanded the independently run central bank cut rates, is probably going to get his wish. And largely because his very own policies are what have the Fed worried.
marketwatch.com/economy-gone-mad-the-fed
Mark Cuban calls Facebook’s digital coin Libra a ‘big mistake,’ saying it ‘could be dangerous’
Billionaire tech entrepreneur Mark Cuban criticized Facebook’s venture into cryptocurrency on Friday, telling CNBC it’s a “big mistake.”
“I’m not a big fan of what they’re doing there,” Cuban said of Facebook’s Libra coin. “I think it’s a big mistake.”
