Live from new york, at the opening bell, this is business today. Traders tread water on wednesday. Cranking up the voltage on trade tensions. Canada slaps hefty import taxes on electric cars made in china older, wiser, and ready to spend. How businesses are finding a Silver Lining in indias ageing population. Welcome to business today, im Michelle Fleury live from new york. Us markets slip at the open after the record close. More on that any moment. Lets turn our attention to markets, the dow is down two tenths of a percent right now, after the wreck a close yesterday. The snp and nasdaq have not fared so well. Traders are turning away from the Technology Stocks right now. For more on this is the chief market strategist, great to see it this morning. Are you surprised this rally is stalling . What should we read from the dow slipping back slightly . Read from the dow slipping back sliuhtl . ,. , slightly . Good morning, i dont think they slightly . Good morning, i dont think they can
Stocks of Amber Enterprises, Blue Star, and Voltas have observed their stock surge by between 50-100%, while Johnson Controls - Hitachi Air Conditioning India has also demonstrated positive performance.
Even when the market was correcting in the month of March one set of stocks which outperformed the market was stocks whose fortunes are linked to how much you sweat due to higher summer temperatures. The reason, first forecast by the IMD about summers was that it would see higher than normal temperatures. Now because sales of air conditioners, air coolers and directly linked to what is the average length of the summer season and secondly what average temperature during those months, the street has figured out that demand for air conditioners and air coolers will see a spike in coming months. Hence the street rushed to buy these stocks. See the returns they have given in the last one month and one week, probably the best. The question is whether these stocks of the companies whose fortunes are dependent on such an unpredictable element of “weather” should be considered as long term investing or just tactical trade, like the one which played out last month or there is more to
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