Diamonds and Dogs

8/5/19

Only a few diamonds today. Newmont Goldcorp (NEM) is up 2% as the price of gold hits $1470/oz, a new six-year high amid trade and growth concerns. No news on Goldcorp. The stock is still not far from its 52 week low following disappointing earnings back in July, but with the markets down over 2%, only a few stocks trading higher.  

Plenty of dogs with the markets down 2%. Another vicious sell off due to trade tariffs concerns with China. The Chinese Amazon, Alibaba (BABA) is down 3%. Industrials like Caterpillar (CAT) and Boeing (BA) that do a lot of business in China are down 2%. Apple (AAPL) is down 4% on Chinese trade concerns. The banks are taking a hit. Bank of America (BAC) and Citigroup (C ) are down nearly 4%. Berkshire Hathaway (BRK-B) is down 1.4% following earnings over the weekend. That's almost a win down only 1.4%.