A meeting between President Obama and Congress has reportedly been postponed, sending stocks off their highs for the day. The meeting was supposed to take place at 3pm today in Washington. The White House is saying it wanted to give the Senate more time. The choppy session was also blamed on low volume due to the Columbus Day holiday.
Heading into the last hour of trading, the Dow was up .2%, the S&P 500 was up .3% and the Nasdaq gained .4%.
Pfizer (NYSE:PFE) was a big winner on the Dow, gaining 1.6%, while Merck (NYSE:MRK) suffered, losing 1.2%. A Bernstein analyst downgraded Merck to Market Perform from Outperform.
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