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📉 As Market Hits New Highs, Stay Away From This Sector

Stocks look set to make new highs while this sector gets crushed, oil stocks trade lower and more

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Happy Tuesday! Death, taxes and Chinese stocks getting crushed. Buying Chinese stocks is like getting back together with your one toxic ex… you think this time around things may be different, and things might be great for a few days, but in the end you get burned once again. Plus, oil gets crushed but stocks keep moving higher.

—Aaron Bry

Plus, take a look at the innovative biotech company aiming to stamp out Ebola once and for all.

MARKET SNAPSHOT

Yesterday: I sound like a broken record, but stocks made new all-time highs once again yesterday. Tech rebounded with the QQQs trading up nearly 1% as $NVDA, $AAPL inch toward their previous highs.

On Our Radar: Back in the swing of things in terms of earnings. $ASML, $MS, $UAL and other major companies are set to report this week.

TOP STORY

What Happened: China’s stock market faced a significant decline on Tuesday, even as broader Asia-Pacific markets experienced gains. This downturn occurred in the wake of record highs on Wall Street, where the Dow Jones Industrial Average and the S&P 500 reached new peaks.

So: The downturn in Chinese stocks comes amid concerns over the effectiveness of China’s economic stimulus measures. Is it time to buy the dip or steer clear of Chinese-listed names?

PRESENTED BY RED HILL BIOP

It's been a decade since a deadly ebola outbreak left over 11,000 people dead and yet finding effective treatments for this disease has proven elusive. 

That could change thanks to a new cost-sharing deal between RedHill Biopharma Ltd. (NASDAQ: RDHL) and the U.S. government’s Biomedical Advanced Research and Development Authority (BARDA), a center of the Department of Health and Human Services’ (HHS) Administration for Strategic Preparedness and Response (ASPR). 

Under the collaboration, BARDA will provide partial funding for Redhill to further advance opaganib to mitigate infections and contain EBOV outbreaks. Opaganib is a first-in-class new chemical entity with anti-inflammatory, anti-cancer and antiviral activity. In an in vivo EBOV study with the United States Army Medical Research Institute of Infectious Diseases, RedHill Biopharma said opaganib delivered a statistically significant increase in survival time, making it  the first host-directed molecule to show activity in EBOV.  To learn more about both drugs and other therapies in RedHill Biopharma’s pipeline click here.

FIVE ZINGERS

The Gold Standard: Goldman Sachs reported earnings this morning, surpassing estimates on EPS and revenue. Here’s how the stock is reacting.

Oklo? More Like OkHigh: Oklo shares traded higher this morning as the nuclear energy sector continues to heat up.

Take It To The Bank: Bank of America, like Goldman, reported stronger-than-expected earnings this morning, sending shares higher.

Cleared For Takeoff?: Here’s how United Airlines looks heading into the company’s earnings after the close.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Basically: Wall Street mood has become circumspect as traders gear up to receive a slew of earnings reports this week amid the market’s record run.

So: The Nasdaq Composite has been a laggard among the major averages and it remains to be seen if the early sentiment reverses and tech stocks could finish the session with a flourish. Here are the sectors in focus as we head into the open.

PRESENTED BY BENZINGA

Today, you can get immediate access to lightning-fast market alerts & insights delivered daily for less than $7 a month. Click here to start investing with an edge today.

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