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Markets Watching out for Janet Yellen on Thursday, and Now Also Hillary Clinton

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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 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.

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Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
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