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Ryan speaks against tariffs, markets soar

House Speaker Paul Ryan urged President Donald Trump to abandon his proposal to implement steep tariffs on steel and aluminum. The markets welcomed the move by sending the markets soaring to close sharply higher with the Dow vaulting 336 points to 24,874. Nasdaq leaped 72 points to 7330.


On the upside


Shares of Marinus Pharmaceuticals (Nasdaq: MRNS) rose ahead of its earnings release next week.


Stitch Fix (Nasdaq: SFIX) stock extended its gains.


Shares of Upland Software (Nasdaq: UPLD) climbed ahead of its earnings release later this week.

On the downside


Spartan (NYSE: SPA) terminated its proposed merger with Ultra Electronics Holdings.


Shares of Blue Apron (NYSE: APRN) fell on news that Walmart (NYSE: WMT) will begin offering prepared meals at its brick and mortar locations.


GlycoMimetics (Nasdaq: GLYC) announced the design of its Phase 3 clinical trial of GMI-1271 in combination with MEC or FAI to treat patients with relapsed/refractory acute myeloid leukemia.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 soared 29 points to 2,720. Bitcoin added $23 to $11,579.


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