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Nightly Business Report – August 26, 2019



Tonight on Nightly Business Report, an Oklahoma judge finds that J&J helped fuel the state’s opioid drug crisis and it could have implications for the pharmaceutical sector.

Plus, the Dow’s triple-digit rebound after Friday’s steep losses.

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Steven HoaglandD HarkcomRich BDoug G Recent comment authors
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Doug G
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Doug G

When the U.S. and China can't even publicly agree if they actually spoke over the weekend … that is all you need to know that this trade war will be going on for years to come. Spoiler: China loses.

Rich B
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Rich B

J&J's actions to mitigate the opiod crisis that they partially caused were deemed band-aid solutions by the judge.

D Harkcom
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D Harkcom

Today there were 13 new 52-week highs and 63 new 52-week lows on NASDAQ. On the NYSE there were 21 new 52-week highs and 61 new 52-week lows. The slope of the US Treasury yield curve was almost constant: five (5) basis points separated the 1-month yield (2.09%) from the 30-year (2.04%). Volatility, as measured by the volatility index multiple I follow, UVXY, declined. UVXY finished at 34.00, off 3.74% on the day. Winners of the day included Choice Hotels (US ticker: CHH) and Chegg (US ticker: CHGG). Regarding CHH: "Choice Hotels International, Inc., together with its subsidiaries, operates as… Read more »

Steven Hoagland
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Steven Hoagland

Trump did NOT tell US businesses in China to relocate. He said to start looking for alternatives. This is a contingency in case the Trade War escalates to that point.