CSX said it expects revenue to fall as much as 2% in 2019, well below a previous forecast of an increase of 1% to 2%.Marketsread more
Challenging conditions in the U.S. housing market, along with tighter currency controls by the Chinese government, cause a stunning drop in foreign demand for American homes.Real Estateread more
The growth in net interest income, a main engine of the industry's profit, looks to slow to a halt in the back half of this year.Banksread more
Amazon also said that on Monday and Tuesday it sold more Amazon devices — like the Echo Dot, the Fire TV Stick and Alexa Voice Remote — over a two-day period than it ever has...Retailread more
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Netflix reports earnings Wednesday as it loses licensed shows to rivals launching their own streaming services.Technologyread more
Hedge fund manager Kyle Bass reportedly thinks that U.S. interest rates will plummet toward zero in 2020 as the economy heads for recession.Hedge Fundsread more
Shares of beauty and wellness products company Nu Skin tanked on Wednesday after the company said China's crackdown on health products is weighing on sales.Investingread more
Buying stocks when they are this expensive has historically led to lower returns, data compiled by Ned Davis Research shows.Marketsread more
The "Fast Money " traders shared their investment strategies heading into August.
Trader Tim Seymour said oil refiners were defensive energy plays when commodity prices were lower and that it's likely that trade will work again. He said Valero Energy and Tesoro have attractive valuations at this point in the market.
Trader David Seaburg disagreed, saying he isn't a fan of the energy sector right now.
"I think you're going to maybe see a bounce in the commodities. It'll be a short-lived bounce and then it's going to sell off again," he said, adding that he would be a seller of energy, consumer staples and technology in the short term. Seaburg said the only sector he is looking at in the short term is biotechnology, despite the headwinds of political risks.
Trader Steve Grasso said he is holding JC Penney and that the retail sector has been written off by other investors.
Trader Guy Adami said that in the current environment, "gold still works."
Tim Seymour is long APC, AVP, BAC, BBRY, CLF, DO, DVYE, EDC, EWZ, F, FB, FCX, FXI, GM, GOOGL, GRMN, GE, INTC, LQD, M, MCD, MPEL, NKE, RACE, RAI, RH, RL, SINA, T, TWTR, UA, VALE, VZ, XOM and short SPY, XRT. His firm is long ABX, BABA, BIDU, CLF, EWZ, F, HD, KO, MCD, MPEL, NKE, PEP, PF, SAVE, SBUX, SINA, VALE, VIAB, WMT, WEN, YHOO and short HYG, IWM
Steve Grasso is long BA, CC, EVGN, JCP, KBH, MJNA, MU, OLN, PFE, PHM, T, TWTR, GDX. Grasso's Kids Own EFA, EFG, EWJ, IJR, SPY. No shorts. Stuart Frankel & Co Inc. and some of its Partners are long MU, AAPL, LDP, WDR, AVP, CVX, FCX, ICE, KDUS, KO, MAT, MCD, MJNA, NE, NEM, OLN, OXY, RIG, STAG, TAXI, TEX, TITXF, URI, VALE, WDR, WYNN, ZNGA, CUBA, HSPO, ICE, AMZN, MJNA, TITXF, NXTD, SPY, QQQ, DIA, XLI.
Opinions expressed by David Seaburg are solely his own and do not reflect the views and opinions of Cowen Group, Inc. Seaburg and Cowen have a financial interest In EDIT.
Guy Adami is long CELG, EXAS, GDX, INTC. Adami's wife, Linda Snow, works at Merck.