Expectations Are Too High for This Drug Stock

The SPX and Nasdaq are eyeing their longest losing streaks since March

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Midday Market Check
MIDDAY MARKET CHECK
 
 

8/02/2019

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Dow Hits One-Month Low on Global Trade Tensions, Fed Fears

By Lillian Currens

Share On

The Dow Jones Industrial Average (DJI) has dropped to a one-month low today, as anxieties over global trade and Fed policy continue to weigh heavily on stocks. After President Donald Trump yesterday announced new tariffs on Chinese goods, the Asian nation responded by threatening countermeasures. In addition, Wall Street is looking ahead to President Trump's speech regarding trade with the European Union (EU) later today. Elsewhere, the July jobs report muddied expectations about future Fed rate cuts, but oil prices are on the rebound, with the front-month contract up 2.7% at $55.37 per barrel. Nevertheless, the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) are on pace for their longest losing streaks since March. 

Continue reading for more on today's market, including: 

  • Expectations are too high for this drug stock, per J.P. Morgan Securities.
  • Analyst: "Step into weakness" on this stock after earnings. 
  • Plus, bulls see more upside for MNST ahead of earnings; APHA bounces back on revenue beat; and analysts slam GLUU stock. 
>> Continue reading...
LATEST HEADLINES
>> JPMorgan Says Drug Stock Can't Live Up to High Expectations
The brokerage firm downgraded a stock that's had a huge year
>> Square Stock Eyes Worst Day Since 2017
Square stock is still up 31% in 2019, though
>> Cronos Bets on U.S. Hemp Producer, Stock Rises
The weed company bought U.S.-based Redwood for $300 million
>> Analysts Back Etsy Stock Despite Post-Earnings Drop
Loop Capital said investors should "step into any weakness"
>> Stock Futures Slip as Tariff Woes Weigh
Oil prices are bouncing back today after a mixed jobs report
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