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Drug stocks slip, then swing back even higher after Trump unveils drug cost cutting plan

Healthcare shares dipped after President Donald Trump began presenting his plan to cut prescription drug costs, then bounced sharply to business even higher than pre-speech levels. The SPDR Health Care Select Sector ETF XLV, +1.49% used to be up about zero.five% before Trump's speech started, then slid to be down zero.1% swinging higher to be up 1.1% at a brand new intraday top. Among shares of the ETF's four maximum heavily weighted components, that have been all additionally Dow Jones Industrial Average DJIA, +zero.37% components: Johnson & Johnson JNJ, +1.51% went from a gain of zero.eight% to a gain of zero.five%, but is now up zero.9%; Pfizer Inc. PFE, +1.31% used to be up zero.eight%, then up zero.2%, and now up 1.2%; UnitedHealth Group Inc. UNH, +1.96% went from a zero.eight% gain to a zero.three% loss, but used to be now up 1.three%; and Merck & Co. Inc. MRK, +2.81% used to be up 1.2%, then up just zero.five%, and used to be now up 2.three%. Some adjustments to coverage announced by Trump and Health and Human Services Secretary Alex Azar integrated drug price negotiation by executive programs, an finish to the "gag rule" on pharmacists--who can't reveal if drug products can be purchased for cheaper with out the use of a health plan -- and disclosure of gear' record prices pharmaceutical commercials.