Over 1,000 Stocks On The NYSE Just Hit 52-Week Lows
Market sentiment has officially turned negative. The MSCI All-Country World Index is now down over 20 percent year-over-year, classifying it as a bear market, CNBC reports.
The broader U.S. indices are also performing poorly, down an average of near 3 percent on Wednesday. All three are now down close to 10 percent year-to-date.
Stocks Hitting 52-Week Lows
Many stocks are hitting 52-week lows, including the following names:
Alcoa Inc (NYSE: AA)
Ambarella Inc (NASDAQ: AMBA)
Bank of America Corp (NYSE: BAC)
Bed Bath & Beyond Inc. (NASDAQ: BBBY)
ConocoPhillips (NYSE: COP)
Caterpillar (NYSE: CAT)
Dunkin Brands Group Inc (NASDAQ: DNKN)
3D Systems Corporation (NYSE: DDD)
1-800-Flowers.Com Inc (NASDAQ: FLWS)
DaVita HealthCare Partners Inc (NYSE: DVA)
Garmin Ltd. (NASDAQ: GRMN)
Groupon Inc (NASDAQ: GRPN)
Jazz Pharmaceutical (NASDAQ: JAZZ)
J C Penney Company Inc (NYSE: JCP)
Mobileye NV (NYSE: MBLY)
Oracle Corporation (NYSE: ORCL)
Transocean Ltd (NYSE: RIG)
TASER International, Inc. (NASDAQ: TASR)
Bank Of America Making Waves
On Tuesday, Bank of America analyst Adam Parker said his team's "best guess" is that the U.S. markets are pricing a 50 percent chance of a recession this year.
As ValueWalk writes, the bank's team said the fall of the USD-Saudi Riyal peg could be the "number one black swan event" in 2016. " In short, low oil makes this possible, as "the FX reserve drain on Saudi could accelerate to $18bn per month if Brent crude oil prices average $30/bbl, sharply reducing the Kingdom’s ability to retain its currency peg.”
JJ Kinahan And Craig Laffman Talking About Market Volatility After Close
TDAmeritrade strategists JJ Kinahan and Craig Laffman will be talking about the market volatility this Wednesday at 4:15pm ET.
Latest Ratings for AA
|Dec 2016||Argus Research||Initiates Coverage On||Buy|
|Dec 2016||Deutsche Bank||Initiates Coverage On||Sell|
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