Stocks back off as rates rise

Dow 27,000? Not so fast. Will rising rates pull the punchbowl from the 2018 stock party? Plus, Apple shares are losing $45 billion in market cap. Will earnings this week stem the tide? And, there’s a sweet deal in the beverage space. We’ll discuss why the Dr Pepper–Keurig deal could spur another. Plus, billionaire Tom Steyer is here to talk Trump, politics, and what he thinks of this market. Catch The Final Round at 3:55 p.m. ET with Jen Rogers, Yahoo Finance Editor-in-Chief Andy Serwer and Yahoo Finance markets correspondent Myles Udland.

Winners and losers

Stocks in the green include Ablynx as Sanofi will buy the Belgian biotech name for $4.8 billion, topping an earlier bid by Novo Nordisk; Immersion Corporation as Apple entered into a settlement and licensing deal with the haptic feedback tech company; and EA, with shares on the rise following a report claiming Microsoft is considering buying the game publisher to amp up exclusives for the Xbox.

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Stocks in the red today include Wynn Resorts, down a second day as JPMorgan says allegations of sexual misconduct against founder Steve Wynn will be a ‘sizable overhang’ for the stock; Abbvie as Leerink and BMO downgrade shares following a big run-up in the stock; and VMWare, not a real loser per se, but shares are down on reports Dell, which owns 80% of VMWare, will compete a reverse merger taking Dell public. This could be the biggest deal in tech history.

Billionaire Steyer takes on Trump’s record

Tomorrow is President Trump’s first State of the Union address. He’s coming off a successful trip to Davos, but there are quite a few people who are not in the president’s corner. One is billionaire businessman Tom Steyer, and he joins us now.

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