Closing Bell Brief for Thursday, January 2nd
Wall Street Journal listeners. Come from all walks of life and business and no matter what type of business urine eighty P is here to help you achieve what you're working king for with. HR talent time benefits and payroll informed by data and designed for people learn more at design don ADP DOT com. This is your closing bill brief for Thursday January second. I'm Charlie Turner at the Wall Street Journal. Stock stormed out of the gate for the New Year with the Dow Nasdaq and S&P. SNP all closing at fresh record highs on the first trading day of two thousand twenty. The Dow Jones Industrials Rose Three hundred thirty points to twenty eight thousand eight sixty eight Nasdaq composite. Is it gained one hundred nineteen the S. and P.. Five hundred twenty seven the markets jumped after China said it would take an additional step to reinvigorate its economy. The People's Bank of China. You said it would. Further loosen monetary policy by reducing the amount of reserves banks need to keep on hold at the central bank essentially freeing up cash for lending pharmaceutical cool companies started twenty twenty by raising the prices of hundreds of drugs however the average increase of five point eight percent was lower than a year earlier amid growing scrutiny from patients lawmakers and health plans according to an analysis visor led the way among the more than sixty drugmakers with price hikes increasing prices by over nine percent on more than forty products products. The drug industry traditionally sets prices for its therapies at the start of the year and again in the middle of the year the Food and Drug Administration says it will bar the use of fruit and admits flavors and cartridge e cigarettes in an effort to curb youth vaping but the FDA will still allow the flavors to be sold via tank vaping systems commonly found in. VAPE vape shops. The federal agency said manufacturers will have thirty days to stop making and selling closed cartridge e cigarettes that sort for more head to wsj.com or the W._S._J. APP.