Buying Biotech Cannabis Stocks on Weakness
The cannabis sector came down from its highs on Friday as global markets plunged on heightened concerns over higher interest rates.
The Nasdaq was the hardest hit and the exchange fell more than 2.5%, while the Dow and S&P 500 dropped more than 2% each.
What to Expect Today?
This market is poised to open lower this morning as global markets are still concerned over a possible rate hike when the FOMC meets next week.
We expect the United States market to trade weak as investors wait to hear from Fed Governor Lael Brainard at 1:15pm EST. The reason why her speech is significant is because Brainard is a voting member of the FOMC and she is typically known to be a dove, meaning that she is less likely to raise interest rates.
Today, Governor Brainard will speak on the economic outlook and monetary policy. We expect the market to...
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