Veritable Wasteland Awaits Dip Buyers Anonymous: Taking Stock

This is what it looks like when a done deal becomes gone zeal.

There were no safe spaces for equity investors Tuesday, with the exception of a handful of unlikely heroes as the tariff threat and trade deal failure risks became a bit more real. There was AIG, higher after its results, a still-recovering insurance giant from the financial crisis (still ~75% below its market value heights in the early part of the century, according to data compiled by Bloomberg). And Fluor, an oil and gas infrastructure servicer that appears to have found a “floor” of its own, hovering near 2005 levels, but up slightly following earnings earlier this month. Newmont Mining also welcomed some buying, given its exposure to the safe-haven yellow metal (peer Barrick just reported EPS above expectations and announced it intends to raise $1.5 billion worth of asset sales through 2020).