U.S. stocks fluctuated as Wall Street picked apart the likely policies of President-elect Donald Trump. Appearing on 60 Minutes Sunday, Trump outlined his plans to appoint an anti-abortion Justice and offered few details on his proposed wall along the southern U.S. border and plans to replace Obamacare. AK Steel (AKS) benefited from Trump's proposed infrastructure spending, though. Morgan Stanley boosted its rating to OVERWEIGHT from EQUAL WEIGHT, pointing to proposed stimulus policies. Dynavax (DVAX) plummeted after the FDA rejected a marketing application for a hepatitis B vaccine. The drugmaker now needs to partner with another pharmaceutical company or a financial backer to resubmit for approval. Twitter (TWTR) climbed after hedge fund Jana Partners disclosed a new stake of nearly three million shares. Jana also disclosed a sole share stake in Yahoo! (YHOO) and dissolved its sole share stake in Expedia (EXPE) .
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.