Market Overview

Market Takes A Bite Out Of FANG To Start 2016

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Market Takes A Bite Out Of FANG To Start 2016
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The combined closing prices of FANG -- Facebook Inc (NASDAQ: FB), Amazon.com, Inc. (NASDAQ: AMZN), Netflix, Inc. (NASDAQ: NFLX) and Google Inc (NASDAQ: GOOG) -- were trading lower by $74.05 at $1579.76 as of 12:30 p.m. ET in Monday's session.

The issues in the acronym made famous by CNBC's Jim Cramer allowed the S&P 500 index to post a small loss for 2015 as opposed to being deeper in the red. As a result, many market pundits will closely follow the price action in these issues to identify a shift in investors sentiment.

Of the four volatile issues, Netflix (down $7 at $107.46) is leading the charge lower after a downgrade by Baird from Outperform to Neutral, lowering the price $128 to $115.

Posted-In: Premarket outlookTechnicals Intraday Update Movers Trading Ideas Best of Benzinga

 

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