** S&P 500 drops 0.8% on the week as China’s aggressive stance in trade war with U.S. weighs ** At first support came under fire, but then oversold levels led to a bounce ** That bounce extended, but it may have been built on sand, and may soon be washed away ** This as traders say tweets are the trump card ** Majority of sectors drop: Financials and industrials hit hardest, while defensive groups cushion the blow. Indeed, defensive shares’ relative shine may grow brighter ** Financials slump 2.1%. Big banks slide as yield curve inverts amid trade tensions, putting sector in a vulnerable spot ** Industrials sag 1.9%. Deere loses 14%, blames escalating trade war for worsening outlook ** Consumer Discretionary down 1.1%.
About The Author
Carnival and Norwegian Cruise Line Are Selling More Stock. Here’s What They’ll Do With the Money. – Barron's
November 18, 2020
March 18, 2021