Gundlach says he’s long energy stocks, short Facebook at Sohn Conference. Based mainly on technicals. https://www.cnbc.com/2018/04/23/gundlach-says-hes-long-energy-stocks-short-facebook-at-sohn-conference.html

The flash IHS Markit U.S. manufacturing PMI climbed to 56.5 this month from 55.5 and touched a three-and-a-half-year high. Readings over 50 indicate expansion. https://www.marketwatch.com/story/us-economy-is-speeding-up-again-but-inflation-is-warming-up-too-ihs-markit-finds-2018-04-23

Shares are up 31% this year, while Facebook has declined 5.7%. The love for Twitter mainly stems from a series of product improvements that investors believe are getting users to spend more time on the platform, as well as the idea that Twitter can benefit from changes Facebook is making to its news-feed algorithm. https://www.marketwatch.com/story…[Read more]

The benchmark 10-year Treasury note yield TMUBMUSD10Y, +0.94% rose 2.6 basis points to 2.893%, after yields surged by the most in a day since Feb. 14 late Wednesday. The benchmark note was hanging around its highest yield level since March 21, according to FactSet data. The 2-year note yield TMUBMUSD02Y, -0.16% shed 0.6 basis point at 2.423%,…[Read more]

“On average, stocks fall for about 13 weeks after a correction before beginning to rebound,” wrote Jeffrey Kleintop, the chief global investment strategist at Charles Schwab & Co. Based on that, he wrote in a note, the “stock market correction might soon be over,” although he cautioned that “the heightened volatility may not be going away for…[Read more]