Daily Stock Market Summary: Stocks opened the day lower as the US President continued to sound a pessimistic note concerning the United States’ long-term trade outlook with China. Markets are turning upward now, however, as the Federal Reserve indicated it would allow the inflation rate to temporarily run above their long-range target of 2%. This allowance should lessen the risk of acute market selloffs in case of modest inflation acceleration. After years of struggling to push inflation back to 2%, the Fed argues that a period of overshooting constitutes a “symmetrical” rate policy.
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Today’s Top Performer: Avinger (NASDAQ:AVGR)
Avinger is a commercial-stage medical device company focused on the development of a cluster of products for use in treating peripheral artery disease (PAD). Their stock is posting dramatic gains today after the announcement of FDA clearance for the firm’s
Already successfully in use in Germany, the device is now cleared for use in the United States. Investors are buying up AVGR on
Pharmaceutical stocks continue to be a consistent source of profits for NewsQuantified users. Between regulatory events like today and major research outcome announcements, there are myriad opportunities to cash in on dramatic price action from this volatile sector.