Photo: Wikimedia Commons
The story of the day is BHP’s warning about Chinese iron ore demand being flat.Not surprisingly, a group of stocks that’s dependent on China for industrial sales is getting hit
- Caterpillar -2.3%
- Deere -1.18%
But there’s another group of China-leveraged stocks that’s behaving differently:
- Tiffany +7%
- Yum Brands +.46%
- Nike +0.5%
So for today it’s out with industrials and in with consumers.
Short iron ore/long Air Jordans.