While the Dow might be flat, cannabis stocks are heating up. We’ll show you why, plus how to find three of the best on the market right now…
Here are the numbers from Tuesday for the Dow Jones Industrial Average, S&P 500, and Nasdaq:
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Now, here’s a closer look at today’s Money Morning insight, the most important market events and stocks to watch.
The Top Stock Market Stories for Wednesday
- The Brexit is back in focus on Wednesday. Yesterday, British Parliament rejected Prime Minister Theresa May’s latest effort to allow the United Kingdom to depart the European Union. With less than three weeks before the country is set to leave the world’s largest economic trade bloc, investors are worried about the worst-case scenario. Britain is not prepared for a Hard departure from the EU.
- Cannabis stocks are red hot. And Wall Street activist investors are now getting on board with the trend. According to CNBC, Nelson Peltz – head of Trian Management – has joined Aurora Cannabis (NYSE: ACB) as a strategic adviser to help the firm bolster its marketing strategy. Peltz will receive options on a staggering 20 million shares that will vest over a four-year horizon for his time and effort to help the cannabis giant. ACB stock popped almost 9% on the news.
THREE STOCKS: Any one of these cannabis companies could potentially deliver a 1,000% windfall. Click here to learn more…
- Finally, oil prices pushed higher Wednesday thanks to a dip in exports out of Saudi Arabia and Venezuela. As we’ve noted, the Saudi government is looking to press crude prices higher by reducing OPEC output and limiting shipments to Asia. Those cuts come as economic sanctions continue to weigh on the Venezuelan oil market. The United States imported 500,000 barrels of Venezuelan crude in November 2018, but sanctions will dry up that flow of oil to the United States. With oil prices set to rise in the coming months, we’ve identified the top energy stock to buy in March. Best of all, it’s under $10 per share.
Stocks to Watch Today: EXPR, BA, TSLA
- Shares of Express (NASDAQ: EXPR) are off more than 13% this morning after the retail firm issued extremely weak guidance before the bell Wednesday. Although the retail firm topped EPS estimates, it reported a 6% drop in same-store sales to complement a decline in revenue. The firm called its earnings report “disappointing” and listed a series of other challenges that face the company in 2019. Just don’t buy the stock.
- Shares of Boeing were off in premarket hours as the global aviation giant continued to reel from last weekend’s Ethiopia Air crash. Countries around the globe are grounding Boeing Air MAX 9 jets until further maintenance and updates are provided by the company. China, Australia, Indonesia, and the European Union have grounded Air 737 MAX 8 flights, and investors are worried that the second crash in five months for one of these planes will cause a delay in orders. A Goldman analyst set a one-year price target for TSLA stock at just $210. That figure represents more than a 25% downturn from Tuesday’s closing price. BA stock is off 11% in the last two days.
- Shares of Tesla Inc. (NASDAQ: TSLA) were off in premarket hours thanks to a negative investor report from Goldman Sachs Group (NYSE: GS). Goldman issued a “Sell” rating for the stock and projected a weaker price for TSLA stock over concerns about falling demand for the electric vehicles.
- Today, look for more earnings reports from China Unicom (NYSE: CHU), Express
- (NASDAQ: EXPR), Stein Mart (NASDAQ: SMRT), Tailored Brands (NASDAQ: TLRD), Vera Bradley (NYSE: VRA)
Did You See John Boehner’s SHOCKING Marijuana Prediction?
At the American Cannabis Summit – the first-ever nationwide event for cannabis investors – former Speaker of the House John Boehner revealed why he’s going ALL-IN on marijuana… and exactly how ordinary Americans can make a fortune from this hundred-billion-dollar industry. To see a special rebroadcast of this historic event, click here.
This post is from Money Morning. We encourage our readers to continue reading the full article from the original source here.