After yesterday's rally to start the fourth quarter, news from Spain spoiled investors' confidence. Spain's prime minister stomped on the rumor that his country was ready to ask for a European Union bailout. The Fool's John Maxfield believes part of the slide can also be contributed to a hedge-fund manager's comments about a number of different companies. Regardless, the Dow Jones Industrial Average
And the winners are ...
Another Dow Component trading higher today was Merck
On Tuesday, it was also announced that Merck had entered into a partnership with Ablynx, a Belgian drug developer. Merck will gain exclusive rights to special nanobodies made by Ablynx scientists, which are one-tenth the size of normal antibodies. The size difference means they could be taken orally, as opposed to previously being injected, and the antibodies may therefore be able to reach new targets in the body.
While these stocks rose today, they may fall tomorrow. Every company is susceptible to market news and macroeconomic events, and a major market-moving event is quickly approaching: the presidential election. A few stocks could skyrocket, depending on who gets elected. To find out which ones before you miss out, click here.