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Stocks Fall Off Highs; Trump Sworn In As President

President Donald Trump vowed to make 'America First,' in his inaugural address. (AP)

After a strong start, the general market gave back early gains in the stock market today, following Donald Trump's inauguration speech.

The Nasdaq hobbled 0.2% higher, while the S&P 500 and Dow inched up 0.3%.

Merck (MRK), led the Dow higher, moving up 3.5% after Bristol-Myers Squibb (BMY) declined to seek accelerated approval for a combination of two approved lung cancer treatments. Bristol-Myers plunged over 10%.

Last week, Merck was granted priority review for Keytruda with chemotherapy as a first-line treatment for advanced lung cancer.

General Electric (GE) lagged in the blue-chip index, falling almost 2%, after reporting Q4 revenues that missed analyst estimates.

Skyworks (SWKS) soared more than 10% after reporting better-than-expected Q4 results. The Apple chip supplier also announced a new $500 million stock buyback program.

The stock is gapping up out of a 14-week consolidation. Quarterly earnings only grew 1% vs. the same quarter in the prior year.

Facebook (FB) edged 0.3% lower as the stock attempts to add a handle onto its recently formed cup-shaped base. Pacific Crest initiated Facebook with an overweight rating.

IBD 50 Action: Banks Rise, HealthEquity Gives Back Some Gains

Leading growth stocks were mostly positive heading into afternoon trading as financial stocks rallied after several days of underperformance. Three of the top four stocks on the IBD 50 were Wintrust Financial (WTFC), Bank of the Ozarks (OZRK) and Citizens Financial (CFG). Wintrust rose 3.4%, while Ozark and Citizens Financial tacked on about 3%. All three stocks have recently found support around their respective 10-week lines.

Among other IBD 50 stocks, Broadcom, a Leaderboard member, added 2.8%. The stock has rallied about 10% from its lows around its 50-day line in the last 10 trading days.

On the downside, HealthEquity (HQY) dropped over 1%. The leading HSA provider is back within its buy range. The stock broke out of a flat base with a 45.10 entry on surging volume.

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