Following the surprise election of Donald Trump yesterday Wall Street is volatile as investors can't make up their minds about the impact. Equities are trending higher but bounced between gains and losses after spending the night mostly lower. Health care stocks were rising Wednesday in reaction to Trump's victory. Biotech stocks, including Celgene (CELG) , Biogen (BIIB) and Pfizer (PFE) were higher. The iShares Nasdaq Biotechnology ETF (IBB) that tracks these stocks rose over 7.8%. A Trump victory is seen as a positive because Hillary Clinton criticized rising drug costs and promised to curb them. And financial stocks saw a jump as Bank of America (BAC) , Wells Fargo (WFC) and JPMorgan Chase (JPM) shares bounced over 3%. The SPDR Financial Sector ETF (XLF) that tracks the financial-services sector was up over 2% Wednesday. Finally, Viacom (VIAB) reported adjusted quarterly earnings of 69 cents a share, topping analysts' estimates by 3 cents. Revenue of $3.23 billion came in below forecasts. Viacom investors will be looking for any commentary on a possible merger to reunite with CBS. Viacom shares were up slightly after being down most of the morning. TheStreet's Valerie Young reports from Wall Street.
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