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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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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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CREDIT SUISSE: Whether the market surges or tanks, tech stocks are perfectly positioned to profit. Here are the best companies to own.

“Count the equity strategists at Credit Suisse among the cohort of Wall Streeters who have lost faith in tech stocks” writes Akin Oyedele for businessinsider.com. Should this broader rally in stocks continue, Garthwaite sees the tech sector as uniquely positioned to reap its gains.Garthwaite cited four main reasons why tech stocks are attractive as a defensive play for a market slump. The US software companies that Credit Suisse’s equity analysts rate “overweight” include Adobe, Autodesk, Microsoft, Oracle, and Salesforce.com.But even if the rally falters, he says tech is attractive as…

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The Fate of Bank Stocks Amid Quantitative Tightening

“Given the extrapolated performance of bank stocks, deregulation, quantitative tightening (interest-rate hikes), and a booming US economy do not seem to be having the desired effect on bank stocks” writes Finance Magnates Staff for financemagnates.com. Based on current trends, interest rates are set to rise modestly in 2019, which should propel bank stocks in the process.According to SelectUSA.gov, the financial services industry in the US comprised 7.5% of US GDP (gross domestic product) in 2017.Consider that in 2017, US financial services and insurance exports amounted to $114.5 billion.It is largely…

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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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‘Panic buying’ likely to drive stock market higher in the near term

“The surge in stocks comes as investors increasingly bet China and the U.S. will strike a trade deal in the near future” writes unknown author for cnbc.com. “Systematic trend followers that had temporarily suspended buying after the weak US retail sales print have also been compelled to follow the market by adding fresh longs.”. “It seems a ‘panic buying’ mood, with purchases by investors who had been lagging the broader market, has strengthened,” Masanari Takada, a cross-asset strategist at Nomura, said in a note Monday.Stocks could get a short-term boost…

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European markets struggle as investors respond to HSBC and BHP earnings

“European stocks were down on Tuesday, as investors responded poorly to earnings from HSBC and BHP Group while trade negotiations between the U.S. and China continue in Washington” writes Emily Horton for marketwatch.com. The markets mainly reacted to the latest set of company earnings from heavyweights HSBC Holdings PLC HSBC, +1.01% HSBA, -3.98% HSBA, -3.98% and the world’s largest listed miner by market value BHP Group BHP, -1.03% HSBC Holdings PLC HSBC, +1.01% HSBA, -3.98% reported lower than expected fourth-quarter profits, leading to a 3% drop in the share price.Results…

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Stocks Daily Review February 19, 2019

Stocks Daily Review for February 19, 2019 Prem Watsa Buys 7 Stocks In 4th Quarter Fairfax CEO keeps BlackBerry and Seaspan but sees losses   Stocks Eye European Data, Can S&P 500 Uptrend Pass Key Resistance? Asia stocks traded mixed as markets await potentially risk-negative European data. In its near-term uptrend, can the S&P 500 break key resistance should sentiment prevail   Have a nice trading!

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