The price of oil and stocks has had a 97% correlation in the past 20 trading days, there’s no question the price of oil is dragging down the equities market so far this year. The price of oil tanked once again today by 7.42% to $29.80, and equities was dow about 1.5% today to continue the selloff in January.
CNBC FAST MONEY FINAL TRADES 01/25/2016
Mr. Wonderful himself joined the Fast Money crew today to give his tips on owning ETFs. He’s looking to invest 25% in Asia, 25% in Europe, and 50% in the U.S. market in 2016 and going unhedged, sounds like he’s fairly bullish on the macro.
Tim Seymour – Sell Starbucks (SBUX), trading at $57.71 at of closing 01/25/2016. Tim thinks the stock has run its course.
Guy Adami – Buy Amazon (AMZN), trading at $596.53 as of closing 01/25/2016. Earnings coming out on Thursday, will surprise to the upside.