John Melloy was the executive producer of CNBC's "Fast Money" and the "Fast Money Halftime Report" until October 2013. Before returning to CNBC, he was chief executive officer of StockTwits.com, the leading social networking platform for stocks. He began his career at Bloomberg News in 1999 and rose to team leader of U.S. stock market coverage there before leaving for CNBC in 2006 to launch "Fast Money."
No need to wait for Friday’s GDP report to get the definitive read on the economy, just look at the earnings results from Whirlpool, Chipotle and Ralph Lauren, say top traders and investors.
“You’ve gotta ask yourself whether this Goldman probe is the exogenous event that triggers a correction," says Guy Adami. “Sometimes that’s how these selloffs begin!”
The benchmark for US stocks stands just about 2 to 3 percent away from the levels when Lehman Brothers declared bankruptcy — the last chance investors had to get their money out before Lehman’s collapse lit a fuse to the market collapse. This may trigger more than just bad memories for investors, traders and analysts said.
Looking over the list of losers in the S&P 500 this year, Google stands out because it is one of — if not "the" — most-loved stocks on Wall Street. Thirty analysts recommend buying the stock, while just four put a "hold" rating (basically the "sell" equivalent) on the shares. Only one analyst recommends selling Google outright.
Corporate executives and directors are selling stock before earnings season begins to ramp up. The ratio of the total amount of stock sales versus stock purchases in the last week was almost 5-to-1, according to the Vickers Weekly Insider newsletter. The 8-week moving average of this ratio is more than 4-to-1, according to Vickers.
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