News Stocks 

Marijuana stocks are mixed with Canopy Growth and Hexo in focus

“The website said the proposed bill would tax cannabis by the ounce, rather than imposing a flat sales tax that state Senate President Stephen Sweeney opposed” reports etfdailynews.com. From Ciara Linnane : Cannabis stocks were mixed on Tuesday, amid a flurry of announcements on the progress of medical and recreational-use bills around the U.S. Pennsylvania’s medical cannabis businesses made at least 600,000 transactions in its first year, allowing 83,000 patients access to the substance, Gov.Among individual stocks, Canopy Growth Corp. shares CGC, -2.92%WEED, -2.79%  fell 2.8% in morning trade. Source: etfdailynews.com

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Markets News Stocks 

Investors are reverting back to the same bad habits that doomed the stock market last year. Here’s what Morgan Stanley says they should be doing instead.

“In terms of what investors can do, Wilson says he’s keeping his highest ratings on more defensive stocks including utilities and household products makers” writes Marley Jay for businessinsider.com. “Cyclicals and expensive growth stocks are high beta and both have performed well year-to-date in what has been a broad beta rally,” he wrote.”The market is still not convinced we are out of the woods on growth concerns,” Michael Wilson said in a recent client note.But Morgan Stanley’s chief US equity strategist says investors shouldn’t get too comfortable. Source: businessinsider.com

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News 

Asda sales slow ahead of verdict on Sainsbury’s merger

“Asda’s sales growth slowed over the crucial Christmas quarter as the supermarket waits for the outcome of a lengthy competition inquiry into its merger with rival Sainsbury’s” writes Ashley Armstrong for telegraph.co.uk. The Walmart-owned chain posted a 1pc rise in like-for-like sales for the three months to Dec 31 – the seventh consecutive quarter of positive growth.However, while the lift in sales demonstrates the extent of Asda’s turnaround from the 7.5pc sales tumble it posted in 2016 – the worst in its history – its rate of growth has slowed compared…

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Crypto News 

South Korean Capital to Invest Over $1 Billion in Fintech and Blockchain Startups by 2022

“The Seoul Metropolitan Government has announced plans to invest more than $1 billion in blockchain and fintech startups by 2022, according to the official announcement published on Feb. 18” writes Max Yakubowski for cointelegraph.com. We will expand our investment to […] stimulate the startup investment market and create a [competitive] startup ecosystem.”. According to the release, the South Korean capital’s government plans to use the “Seoul Innovation Growth Fund” for startups that have various investments problems with Series A funding rounds.The fund, launched last year, will primarily focus on startups…

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Crypto Futures Markets News 

Bitcoin Again Tests $4K Amidst Anticipation of US and China Trade Deal Finalization

“Ethereum (ETH), the second-largest cryptocurrency by market cap, is up about 3.5 percent, approaching $150” writes Helen Partz for cointelegraph.com. U.S. gold futures increased by 0.3 percent to $1,326.1 an ounce.Tuesday, Feb. 19: crypto markets have continued gaining momentum, with all of the top 20 coins by market cap seeing green and Bitcoin (BTC) testing $4,000 again, according to CoinMarketCap.Daily trade volume has continued gaining momentum, currently seeing a slight decline from $36 billion to $35 billion.As the U.S. dollar reportedly weakened on anticipation of the U.S. and China trade…

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Markets News Stocks 

Stocks trade mixed as U.S. and China kick off latest round of trade talks; Walmart jumps

“U.S. stocks struggled for direction Tuesday as U.S. investors return from a three-day weekend as another round of U.S.-China trade talks begins in Washington” writes Deputy Markets Editor for marketwatch.com. Gains last week were fueled in part by upbeat expectations surrounding U.S.-China trade negotiations.In Europe, stocks were trading lower Tuesday, with the Stoxx Europe SXXP, -0.27% down 0.4%.AAP, +1.37% stock fell 0.6%, after the firm reported fourth-quarter profits that topped analyst forecasts but saw same-store sales growth fall short. Source: marketwatch.com

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News 

Walmart CFO on the U.S. consumer: ‘Still looks pretty good to us’

“Another interesting development, from a macroeconomic perspective, is that Walmart reported a rise in inventory growth” writes D C for marketwatch.com. Biggs said the consumer “still feels pretty good to us.” “You see all the numbers that we see — wages are still pretty good, unemployment rates low, gas prices are down year-on-year,” he said.The December retail-sales numbers reported by the government may have panicked financial markets, but the largest U.S. retailer isn’t sweating it.Walmart WMT, +3.68% on Monday reported that U.S. comparable-store sales in the January-ending quarter were up…

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Markets News 

Walmart shares surge as holiday sales crush estimates, boosted by e-commerce growth

“Walmart said that, for the year, it achieved e-commerce sales growth of 40 percent, which it had been targeting” writes Lauren Thomas for cnbc.com. Net sales growth is predicted to be at least 3 percent, hurt by deconsolidation of Walmart’s Brazil operations and reduced tobacco sales at Sam’s Club.The company is, meanwhile, targeting e-commerce sales growth of 35 percent for fiscal 2020, which won’t be as robust as what it was able to achieve last year.Walmart shares were up about 4 percent in premarket trading on the news.CEO Doug McMillon…

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News 

Walmart shares rise after earnings and revenue beats expectations

“Walmart expects fiscal 2020 U.S. same-store sales growth of 2.5% to 3% and Sam’s Club same-store sales growth of 1%” writes Tonya Garcia for marketwatch.com. WMT, +1.49% shares rose nearly 5% in Tuesday premarket trading after the retail giant reported fiscal fourth-quarter earnings and revenue that beat expectations. Source: marketwatch.com

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