Schaeffer's Opening View The yield on 10-year Treasury note fell below the 2-year Treasury yield
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| | 8/14/2019 | |
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Stock Futures Crushed After Yield Curve Inversion | By Patrick Martin | | Dow Jones Industrial Average (DJI) futures are taking a beating this morning, trading more than 300 points below fair value. This has the blue-chip index on track to pare the bulk of the gains from yesterday's trade-induced rally. Bank stocks are under the most pressure, after the yield on the 10-year Treasury note fell below that of the 2-year note, marking a rare yield curve inversion. This signal has flashed prior to previous recessions, and, alongside weak economic data from overseas, has sparked panic selling in stocks and a rush to safe-haven assets -- with December-dated gold futures up 0.6% at $1,523.10 an ounce ahead of the open. Continue reading for more on today's market, including: - This rare signal says to buy stocks now, according to Schaeffer's Senior Quantitative Analyst Rocky White.
- There's a fire sale on this FAANG stock.
- These 3 retail stocks rallied on yesterday's tariff news.
- Plus, Canada Goose pulls back on margin miss; Qualcomm names new chair; and a big bull note for WWE.
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