Nasdaq reaches new all-time high as energy slips

The Nasdaq hits a new high as the Dow slips back from the 20,000 mark. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.

Trump and the volatile political risk environment

The new year marks the most volatile political risk environment in the postwar period, that’s according to Ian Bremmer, president of Eurasia Group. We ask Bremmer about the role President-elect Trump plays in the environment of political uncertainty.

Chinese currency and foreign reserves facing critical milestones

The Chinese yuan fell half of a percent against the dollar today. This follows the short squeeze last week that drove the Chinese currency up about 2.5%. Yahoo Finance’s Justine Underhill has more on the volatility.

Winners and losers

Stocks getting hit today include electronics manufacturer Acuity Brands after posting a miss on both earnings and revenue, Urban Outfitters after the retailer reported that same-store sales during the holidays were lower than expected, and AMAG Pharmaceuticals. Shares of the drug maker are slipping after preliminary Q4 revenue missed Street expectations and the company reduced its full year 2016 guidance.

Meanwhile, stocks on the move higher today include Ariad Pharmaceuticals, with shares leaping more than 70% after Takeda Pharmaceutical announced an acquisition of the drug maker in a deal worth about $5.2 billion, EXACT Sciences after the molecular diagnostics company reported that preliminary 2016 revenues were up 150% year over year, and VCA. Shares of the animal hospital company are surging after announcing a takeover by Mars—the candy- and pet-food maker—in a deal valued at about $9.1 billion.

Look Ahead

Here’s a look ahead at what will be making headlines tomorrow:

• At 10 a.m. Eastern, we’ll get another look at the employment situation with the Labor Department’s Job Openings and Labor Turnover survey, or JOLTS, for November. The prior month saw nearly 5.5 million job openings.

• Also at 10 a.m., the government will release wholesale trade data for November. Economists are looking for inventories to increase 0.9% month over month.

• And finally, at 9 p.m., US President Barack Obama will deliver his farewell address in Chicago, where he is expected to talk about his vision for the country going forward. This will mark the first time that a president has returned to his hometown to deliver such a speech.