Mississauga, ON -- (SBWIRE) -- 08/29/2016 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled "Tonix Pharmaceuticals Gains On Update for TNX-102 SL."
Companies mentioned in this article include Mylan Inc. (NASDAQ:MYL) and Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP).
Equities have edged higher in trading today even as investors digested the Federal Reserve Chair Janet Yellen's Jackson Hole speech. Speaking at the annual symposium of central banks in Jackson Hole, the Fed Chair was hawkish in her tone.
Yellen indicated at least one rate hike in 2016. Later, Stanley Fischer, Vice Chair of the Fed, clarified that Yellen's speech does not rule out a rate hike in September itself. In fact, Fischer said that the speech has also not ruled out two rate hikes for 2016.
A hawkish Fed is negative for risk assets such as equities, but U.S. investors seem to be brushing this aside. At last check, all three major indexes were higher. However, the biotech sector is continuing to see weakness. Biotech's weakness though can be attributed more to a statement from Presidential candidate Hillary Clinton. Last week, Clinton criticized Mylan Inc. (NASDAQ:MYL) for hiking the price of EpiPen injection by 400% since acquiring the asset. Clinton's comments have brought the drug pricing issue at the center stage once again and it seems to be putting pressure on the biotech sector.
One biotech stock though is bucking the trend in trading today. Shares of Tonix Pharmaceuticals Holding Corp. (NASDAQ:TNXP) have edged higher in today's trade.
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