• Ring The Bell
  • Posts
  • đŸ» Buffett Just Bought This To Guard Against Bear Market

đŸ» Buffett Just Bought This To Guard Against Bear Market

Plus, more recession-resistant stock picks, earnings report galore and more

You're receiving this email because you're subscribed to Ring the Bell from Benzinga. To manage your subscription, click the link at the bottom of this email.

Happy Thursday Zingernation! Yesterday the S&P 500 opened higher and then traded down more than 2% throughout the day, reigniting fears that we are heading toward a bear market. And yes, I’m talking about the kind of bear market where stocks move lower, not one where RFK JR might try and buy bear meat. Here’s how Warren Buffett is prepping for a potential market downturn, and some recession-resistant stocks to check out.

—Aaron Bry & Nic Chahine

Plus, trying to improve your options trading? Check out today’s to take your trading to the next level.

MARKET SNAPSHOT

Yesterday: We opened higher and then dropped like a rock throughout the day. Big tech was the loser of the day, with the QQQs closing down more than 1%.

On Our Radar: Jobless claims came in lighter than expected this morning, and I guess good news is good news again. Stocks got a lift of the economic data, but we’ll see if we can hold on to those gains today.

TOP STORY

Basically: Billionaire Warren Buffett‘s Berkshire Hathaway Inc surprised many observers by offloading a significant portion of Berkshire’s Apple Inc holdings in the second quarter.

So: Berkshire Hathaway’s balance sheet is now substantially weighted to United States treasury bills. According to Berkshire’s most recent filing, the Omaha, Nebraska-based company now owns $234 billion in treasury bills. Here are the specific t-bills Buffett is holding, and how it compares to his holdings in the past.

PRESENTED BY CBOE
FIVE ZINGERS

Survey Says: Benzinga asked its readers if they think the economy is heading to a recession. Here’s what the majority said.

Vacation Over?: After a weak earnings report, Airbnb’s stock is heading toward a technical death cross. Experts say to watch these levels.

All Good In The $HOOD: Robinhood’s shares are trading higher this morning after the brokerage reported stronger-than-expected earnings.

That Dog Will Hunt: DataDog reported a 27% jump in revenue for Q2, and delivered higher-than-expected EPS. Here’s how shares are responding.

Swipe Left: Bumble shares are getting hammered after the dating app company reported earnings. Here’s what the analysts are saying.

ONE FOR THE ROAD

Basically: In a market landscape clouded by recession fears, sell-offs and rebounds, Macquarie has identified 10 Asian stocks it believes are primed for a comeback.

So: Amidst the turmoil of declining global markets, these stocks have weathered the impact of the recent drawdown and are now positioned as top buying opportunities. Macquarie’s list of “highest conviction” stocks includes semiconductor giants Here are the specific names the investment bank recommends.

PRESENTED BY CBOE
BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Future Finance: Where fintech, crypto, and the future of finance collide. Future Finance is a perfect lunch read packed with quick bites for industry enthusiasts. Subscribe here.

Cannabis Daily: A must-read daily briefing for cannabis investors, operators, and enthusiasts. Join our list of industry veterans to jump start your morning. Subscribe here.

Real Estate Weekly: Where we highlight the movers and the losers, the upgrades and the downgrades, the top stories and opportunities in the trillion dollar REIT and real asset industry. Subscribe here.

Mining Weekly: Get an insider's edge with news, analysis, and commentary on what’s shaping the mining and commodities industry that powers the global economy. Subscribe here.