Good morning
It has been a wild week and we may close out the week with another wild ride. We have several things that could move the markets today with the first being the jobs report being released @ 8:30 ET. Economists and analysts will be looking at the unemployment rate (which is anticipated to remain somewhat flat) and signs of potential wage inflation. If either of those data points surprise we can expect the market to react accordingly. A weaker number could be viewed as a good thing and vice versa if the numbers come in hot.
OPEC is going to finish up their meeting today and if they come to an agreement on production cuts we could see oil and energy get a lift. If the cut is considered too small we could see oil and energy continue to grind lower and if there is no cut at all we may see a sharp drop in oil and energy names.
Trade is still front and center with the arrest of the CFO from the Chinese company Huawei. Tensions could continue to mount and make an already challenging situation more difficult.
With all of these issues it was floated out yesterday that the Fed may be considering taking a pause with more of a wait and see approach after the anticipated December rate hike. Those comments led to a drop in the dollar and if there is more chatter about a sidelined Fed we could continue to see the dollar decline.
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Cannabis stocks are going to be in play once again as Altria has decided to invest 2.4 billion into Cronos buying 146 million shares at a price of 16.25 a share owning 45 percent of the company. ACB NBEV NEPT CGC TLRY GTBIF PYX CVSI just a few names that come to mind.
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$ENZ
Enzo Biochem Highlights Publication Of Study On SK1-I Detailing Promising Results In Model Of Treatment-Resistance Breast Cancer recent insider buying in this range could be a bottom bounce play could be a higher risk swing with an entry near 3
$UUUU has held up well in the market turmoil they have an ATM out there and could be diluting but they also have some potential catalysts on the horizon with their plans to start producing vanadium
$UXIN pop off pr yesterday potential red to green follow through trade flirting with a 4 test and roll
shares are trading higher after the company announced a strategic partnership with Ali Baba's Taobao to establish an online used car shopping mall on the Taobao marketplace.
$TWLO daily looking like it may want to go for the 100 dolla holla could also be testing a double top may be a higher risk swing consideration potential entry in the 89-92 range could be ideal
$MDCA
MDC Partners shares up 19% following Wednesday report by AdWeek suggesting Accenture is among the final bidders for the company. could get some follow through today as it breaks a long term trend line on the daily look for 3 to act as support for potential bounce
$ASNS nice flag on the daily after the recent run up looking for a flag break with volume ..Day trade opp
