Market 2018-03-19 (FB, NWL, and more)

Last Friday, I said "a correction in Tech Sector may come sooner or later." Now we know it comes very shortly. Tech Sector (QQQ -2.3%) is leading the decline today; followed by Biotech (IBB -2%), Energy (XLE -1.5%). Utilities (XLU -0.6%) and Financials (XLF -0.7%) are relatively better.

GLD +0.2%; USO flat; TLT -0.31%; UUP -0.42%.

Uber will suspend its self-driving car testing program after a car hit and killed a woman in Arizona on Sunday evening.

Facebook (FB -6.8%) is in the middle of a political storm again, which is dragging the whole Tech Sector down. GOOG -3.2%, AAPL -1.8%, AMZN -1.7%, NFLX -1.6%; MSFT -1.8%, TSLA -2.4%, SNAP -3.5%, TWTR -1.7%...

Amazon’s Whole Foods will hold a supplier summit to solve the tensions (suppliers are not happy with Amazon after its takeover), starting tomorrow in Austin, Texas.

Fed will hold meetings tomorrow and Wednesday

Winners

SIG (+2%) bounces back after the selloff after ER.

Defense stocks are doing well: NOC +1.9%, LMT +1.2%, GD +0.5%.

Retailers are also fine: GPS +1.5%, M +1.4%, KSS +0.7%.

Losers

During a speech in New Hampshire, Trump commented that he is "considering" suing drug-makers over their role in the opioids crisis. TEVA -2.5%, MYL -2.2%, ABC -3.7%, MCK -3.1%, JNJ -2.6%, PFE -1.2%AGN -2.2%, PRGO -2.4%...

NWL -6.5%, reaches deal with Icahn for board nominees. HES -4.1%.

MAT -4.6% continues to feel the pain from Toys R Us. HAS -1.5%.

ESRX -4%, CI -1.3%.

JNPR -3.9%, AVGO -3.9%

In After Hours

Oracle (ORCL -0.6%): Q3 EPS of $0.83 beats by $0.11. Revenue of $9.78B (+5.5% Y/Y) in-line. Total cloud rev +32%. Shares -3.7% in AH.

BlackBerry (BB -1.8%) is jumping in postmarket, +5%, on news of a strategic partnership with Microsoft on enterprise software.

ARNA +26% in AH after announcing Phase 2 data on ralinepag in ulcerative colitis

My Trades Today

Bought FB @ $171.8

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