Stocks and Securities
Stocks started slow and low start of Tuesday, but tides turned as the day wore on, ending higher for a second day in a row. S&P 500 was down went as low as 0.4% early, but finished with a gain of 0.4%, closing just a tick below its session high. The Dow also climbed 0.4%, while the tech-heavy Nasdaq added 0.6%.
Tuesday’s slow start was attributed to what China told the World Trade Organization (WTO) that they too would want to impose sanctions on the US, citing Washington’s non-compliance with a ruling in a dispute over US dumping duties. That headline weighed on the futures market, but stocks immediately started moving higher after the opening bell.
This morning, it appears that US and Canada may have taken a step closer to coming to an agreement with regards to NAFTA. This step forward has been attributed mostly to Canada reportedly ready to allow US limited access to Canada’s dairy market. US dairy farmers have been longing to have more access to Canada’s market and have also been unhappy about Canada allowing their farmers to sell milk protein products at a. lower price to processors.
On the Oil front, energy shares were particularly strong, helped by a rebound in the price of crude oil. WTI crude futures rallied 2.5% to $69.25/bbl and are set to open higher this morning as well. This ended a five-session losing streak, as Hurricane Florence continued barreling towards the East Coast, where it may disrupt the Colonial Pipeline that connects Houston to New York. The S&P’s energy sector advanced 1.0%.
What are the best stocks to buy in this market?
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Stocks on the Radar
Regarding potential ETF plays from our ETF ALPHA segment, last week we had the notables UWT (+4%) and LABU (+6%). Look at this weeks take on the ETFs we follow.
Furthermore, we encourage our readers to look at our most recent article titled “New Frontiers in Genomic Medicine” as we highlighted Bluebird BioInc. (BLUE) as our next long-term investment opportunity.
Lastly, take time to read our “Best stocks to Buy in September”, as we highlighted four of our picks for this month.