How to Play This Long-Term Growth Stock

Dow futures are down roughly 180 points before the open

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Schaeffer's Opening View
3/29/2021
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Stock Futures Dampened by Financial Sector Woes


By: Lillian Currens

Bank stocks are pulling back this morning, and taking the rest of the market with them, thanks to reports that Hwang's Archegos Capital Management sold roughly $30 billion in holdings. The news has many sector members plummeting, including Credit Suisse (CS), which expressed concerns over weak current-quarter results as it exited hedge fund positions directly tied to the forced selling. Futures on the Dow Jones Industrial Average (DJI) are pointed roughly 180 points lower, while futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also sitting firmly below fair value. 

Not all sectors are stumbling today. Media stocks are bouncing back from Friday's steep selloff. Specifically, ViacomCBS (VIAC) and Discovery (DISCA), both of which came under immense pressure last week amid the aforementioned forced liquidation reports. Elsewhere, updates on President Joe Biden's infrastructure plan, which is expected to cost around $3 trillion, are expected out later this week. 

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

  • Could this food stock be the next big turnaround play?
  • A long-term growth stock bulls might want to grab. 
  • Plus, FLY flies higher on big buyout deal; CALM climbs after earnings beat; and the Big Tech stock JPMorgan Chase just called a "top pick." 
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