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Stocks Daily Review December 19, 2018

Stocks Daily Review for December 19, 2018 ‘Grinch-like’ US stocks are on course for their worst December since the Great Depression The S&P 500 has dropped about 8% this month, eclipsing the 6% fall in the final month of 2002 and heading for a loss not seen since the ’30s.   Wells Fargo Sees Another Rally Ahead For Shopify Shares Shopify stock has been volatile in 2018, but technical data suggests an upside move is ahead   How The Parts Add Up: The iShares Russell 1000 Growth ETF Targets $162…

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After epic run, the tech ‘FAANG’ trade is no longer Wall Street’s favorite

“Bank of America Merrill Lynch also released it survey of fund managers on Tuesday” writes unknown author for cnbc.com. But now, the dollar has become fund managers’ number one trade.Shares of technology giants have fallen out of favor with fund managers, replaced by bets on the U.S. dollar as the most crowded trade.Amazon shares also have fallen since the company reached a $1 trillion valuation earlier this year.Over the past three months, Apple shares have plunged more than 20 percent, while Facebook shares have fallen 13 percent. Source: cnbc.com Share This:

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Bernstein downgrades tech sector, looks for cheap buys

“AB Bernstein downgraded technology stocks to “market weight” from “modest overweight,” citing potential headwinds including high valuations and trade tensions” writes Yuriko Nakao for cnbc.com. In the meantime, some tech names with losses as much as 50 percent over the past six months have become very attractive, said a team of tech analysts at Bernstein, who recommend picking up cheap tech stocks in 2019. “We also worry about the risk of an escalating trade war, which could trigger increased prices – resulting in negative demand elasticity – for consumer technology…

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Cramer says stocks are ‘really oversold’ after markets fell to a new low for the year

“CNBC’s Jim Cramer argued Tuesday that stocks are “really oversold” after the market fell to a new low for 2018″ writes Berkeley Lovelace Jr for cnbc.com. Stocks were actually trading higher early Tuesday, rebounding from Monday’s session that saw the market fall another 2 percent. Source: cnbc.com Share This:

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This positive data point says Santa may arrive at the stock market after all

“Ask Arora: Nigam Arora answers your questions about investing in stocks, ETFs, bonds, gold and silver, oil and currencies” writes Nigam Arora for marketwatch.com. Shouldn’t the gurus be first objectively looking at all of the data and not just the data that support action in stock prices?. Nothing has changed in the stock market in my three-plus decades in four respects. 1.At the top in the stock market, we were holding a good amount of cash and hedges. Source: marketwatch.com Share This:

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Plunging oil prices pull energy stocks lower, erasing gains

“On Tuesday, the Energy Information Administration said U.S. shale oil production will keep climbing in January, and the Wall Street Journal reported that oil production in Russia reached a record high in December” writes Marley Jay for seattletimes.com. NEW YORK (AP) — U.S. stocks are broadly lower Tuesday afternoon, and energy companies are falling after the price of crude oil plunged another 7 percent.The companies have taken huge losses this year as rising mortgage rates and prices have reduced home sales.Higher rates can slow economic growth, something investors are already…

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Donald Trump moves to ban bump stocks used in America’s worst mass shooting

“Donald Trump has officially moved to to ban bump stocks, the controversial devices that allow semi-automatic weapons to fire rapidly like automatic firearms” writes Stephen Harper for telegraph.co.uk. A senior Justice Department official said bump stocks will be banned from late March next year. Shortly after his comments the justice department announced it had started the process to amend firearms regulations to define bump stocks as machine guns.Following the Las Vegas shooting the devices became a focal point in the national gun control debate.Bump stocks were used by gunman Stephen Paddock…

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Trump bans ‘bump stocks’ used in mass Las Vegas shooting

“While bump stocks are not widespread, they are still plentiful in the market, with high sales over the internet and in big-box stores, the officials said on the call” writes Midwest Communications Inc for 95kqds.com. After the March shooting at Marjory Stoneman Douglas High School in Parkland, Florida, the retailer raised the minimum age for buying guns at its stores.The Trump administration is already bracing for a lawsuit from the National Rifle Association or other gun ownership groups.WASHINGTON (Reuters) – The Trump administration said on Tuesday it had banned the…

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Greenspan tells stock investors: ‘Run for cover’

“Plunging stock markets and signs of slowing global growth may prompt the central bank to signal a slowdown in rate increases next year, analysts have said” writes Rachel Koning Beals for marketwatch.com. So, “at the end of that run, run for cover,” he said. “The [market] volatility is a function of how we speak, think and feel — and it’s variable,” Greenspan said in the interview. “Unless you can somehow radically change human nature and how we respond, this is what you’ll always get and have been getting.Alan Greenspan, the…

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Investors just poured a record amount into bonds as ‘extreme bearishness’ sends them fleeing from stocks

“Beyond the prospect of slowing economic growth, investors are being troubled by a handful of other notable headwinds” writes Joe Ciolli for businessinsider.com. Investors fleeing the stock market are seeking shelter in bonds to an unprecedented degree.Those investors reduced holdings in stocks by 15 percentage points over the same period, according to the data.On a global basis, a record $39 billion was yanked from stocks worldwide over the same period.These developments have pushed the market close to “extreme bearishness,” strategists at BAML wrote in a client note. Source: businessinsider.com Share This:

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