Legal marijuana shortages persist in Canada

cannabis stocks
From Bill Alpert: Legal cannabis shortages were still a problem in Canada in early 2019, several months after the country began recreational sales to adults, says a report this morning by broker Cowen. A survey of five provinces' online weed availability in January shows that nearly half of all items remained out-of-stock on marijuana e-commerce sites. But in the relatively-populous Ontario, supplies were better, with 61% of listed products actually in-stock. In New Brunswick and Newfoundland & Labrador, however, out-of-stock rates increased.
NYSE:MJ March 25, 2019 12:50pm

The housing industry is at risk to face a perfect storm

home buyers
From Bernard Baumohl: There is no better barometer on the health of the U.S. economy than housing. It's an industry that encompasses a myriad of vital sectors -- banking, manufacturing, commodities, international trade, transportation and, of course, consumer spending. So it's not surprising the Federal Reserve closely monitors housing trends in the course of setting monetary policy.
NYSE:XHB

Oil prices close lower today but climb higher for a third straight week

oil pump
From Myra P. Saefong: Oil futures fell on Friday, with losses fed by worries over a slowdown in global energy demand, but prices climbed for a third straight week on expectations for tighter crude supplies. May West Texas Intermediate oil CLK9, -1.68% fell 94 cents, or 1.6%, to finish at $59.04 a barrel on the New York Mercantile Exchange. The contract still rose about 0.4% for the week, according to FactSet data.
NYSE:USO March 23, 2019 12:07pm

Marijuana stocks move lower after recent strong gains

marijuana stocks
From Ciara Linnane & Max A. Cherney: Cannabis stocks were a sea of red Friday as the broader market tumbled, leading investors to take the opportunity to lock in recent gains.
NYSE:MJ

Analyst says that the S&P 500 could fall 40%, as yield curve inverts

economic chart
From Sunny Oh: An inversion of this spread -- the most closely watched by economists -- has preceded every recession since 1960, though the timing between the two events can vary, according to the New York Fed. Bond prices move inversely to yields.
NYSE:SPY March 22, 2019 9:07pm

Recession Alert: Treasury curve inverts for the 1st time since 2007

treasury yield
From Sunny Oh: The yield curve as measured by the spread between the 3-month Treasury billTMUBMUSD03M, -0.64% and the 10-year note TMUBMUSD10Y, -3.90%inverted for the first time since 2007, following a sharp rally in longer-dated notes. The spread between the two maturities stood at around negative 3 basis points. On Friday, the 10-year note yield fell nearly 10 basis points to 2.434%, while the 3-month bill was down a single basis point to 2.462%, Tradeweb data show. Bond prices move inversely to yields. The last nine times the yield curve has inverted, a recession has followed, according to the San Francisco Fed.
Nasdaq:IEF

Gold moves higher on global growth concerns

gold
From Myra P. Saefong and William Watts: Gold continued to push higher Friday, overcoming strength in the U.S. dollar as investors reacted to global growth fears that were underlined by a round of downbeat economic data, as well as the Federal Reserve's dovish tone earlier this week.
NYSE:GLD

Existing-home sales soar in February, hit 11-month high

reit investments
From Andrea Riquier: The numbers: Existing-home sales ran at a 5.51 million seasonally-adjusted annual rate in February, the National Association of Realtors said Friday. That was an increase of 11.8% for the month.
NYSE:XHB

Mortgage rates slide to a 13-month low

home buyers
From Andrea Riquier: Rates for home loans fell, with no bottom in sight as investors increasingly brace for slowing economic growth.
NYSE:XHB March 21, 2019 6:19pm

Dollar moves higher, recovering from post-Fed losses

money flowing bills
From Anneken Tappe: The U.S. dollar climbed in Thursday trading, retracing some of its losses from the previous session that it incurred after the Federal Reserve reinforced its dovish policy stance.
NYSE:UUP

Could the Mueller report could hurt the stock market?

donald trump speaking
From Chris Matthews: two years of the Trump administration, but equity strategists and analysts say markets may soon have to deal with its ramifications, as Special Counsel Robert Mueller reportedly nears the end of his investigation into possible ties between the Trump campaign and Russia's meddling in the 2016 election.
NYSE:SPY

Oil prices remain above $60

oil pump
From Myra P. Saefong and William Watts: Oil futures struggled for direction on Thursday, with U.S. benchmark holding above the key $60 mark as it seesawed between modest gains and losses, but global oil prices eased back from the four-month high set in the previous session.
NYSE:USO

After EIA natural gas report release, prices move lower

natural gas pipe
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday a modest decline in U.S. natural-gas supplies|NEW] that domestic supplies of natural gas fell by 47 billion cubic feet for the week ended March 15. The data included a slight upward revision to the previous week's total stocks. Analysts polled by S&P Global Platts had expected a decline of 48 billion cubic feet. Total stocks now stand at 1.143 trillion cubic feet, down 315 billion cubic feet from a year ago and 556 billion below the five-year average, the government said. April natural gasNGJ19, -0.50% traded at $2.811 per million British thermal units, down about a penny, or 0.3%, from Wednesday's settlement.
NYSE:UNG

Financial sector sees another day in the red, as Fed’s dovish messages weigh on yields

profit loss
From Tomi Kilgore: Financial stocks fell Friday, and were the only sector of the S&P 500'sSPX, +0.70% 11 sectors to be losing ground, as Treasury yields extending declines amid growing concerns of a slowing economy. The SPDR Financial Select Sector ETF XLF, -0.54% declined 0.4%, and has now lost 3.2% amid a 3-session losing streak. Among some of the financial ETF's most heavily weighted components, shares of J.P. Morgan Chase & Co. JPM, -1.85% fell 1.8% to pace the Dow Jones Industrial Average's DJIA, +0.58% decliners, Bank of America Corp. BAC, -1.71%shed 1.4%, Citigroup Inc. C, -1.03% slid 1.0%, Goldman Sachs Group Inc.GS, -0.38% gave up 0.3% and Wells Fargo & Co. WFC, -1.44% lost 1.2%. Meanwhile, the yield on the 10-year Treasury yield declined 1.4 basis points to a 14-month low of 2.451%, in the wake of the Federal Reserve's dovish message, in which the central bank cut its outlook for economic growth and inflation, as well as its projections for interest-rate hikes to none from two. Lower Treasury yields can hurt bank profits, as they narrow the spread between what banks earn on longer-term assets, like loans, that are funded by shorter-term liabilities.
NYSE:XLF

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