Need to Know: Doug Kass warns of 'an abrupt change in market complexion'
The month of February ends with no lunch and no deal in Hanoi for POTUS and his North Korean counterpart, but plenty of green for investors.
But our call of the day, from Doug Kass, president of Seabreeze Partners Management, warns that we’ve swung from a market opportunity in December to “market vulnerability” as the month winds down, with risk of “an abrupt change in market complexion and momentum” on the rise. 2) No U.S.-China deal on trade, and no “big deliverables” over IP theft and or technology exchange. No deal out of Hanoi could also be a trigger.— Brynne Kelly February 27, 2019 3) POTUS “lashes out in a series of policy mistakes” rattling market confidence as he faces failures in getting China, North Korea agreements. For example, hitting Europe with auto tariffs.
7) Domestic pressures heat up for POTUS, such as damaging testimony by former lawyer Michael Cohen or a Mueller report.10) A dovish ECB President Mario Draghi gets replaced by a hawk.Check out: The U.S. stock market has now split into the ‘haves’ and the ‘have nots’The quote Trump: "I think it was very good, very friendly. This wasn’t a walk-away like you get up and walk out, no, this was very friendly. We shook hands. There is a warmth we have. I hope that stays—I think it will." pic.
The dollar DXY, -0.24% and gold GCJ9, +0.36% are pretty flat, while crude CLJ9, -0.16% is handing back some of those big gains from Wednesday. The buzz A string of tech companies reported disappointing earnings late Wednesday and shares are feeling the strain — Box BOX, +2.26% HP HPQ, -0.21% Fitbit FIT, +3.93% Square SQ, +1.76% and Booking BKNG, -0.51% . Victoria’s Secret parent L Brands LB, -0.29% is also down on mixed results.Thursday’s earnings list includes Hormel HRL, +1.75% and Domino’s DPZ, -0.12% early, then Kraft Heinz KHC, -2.78% , Hewlett Packard Enterprises HPE, -0.60% Roku ROKU, +3.52% Wendy’s WEN, +1.52% Dropbox DBX, -0.
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