Here’s what’s been happening on Wall Street overnight

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For most of the almost nine-year stock bull market, investors have viewed weak stretches as opportunities to increase exposure.

And can you blame them? The equity market has made a habit of snapping back quickly following sell-offs, which has emboldened traders to buy more on declines, thus perpetuating the cycle.

Well, enjoy this “buy the dip” strategy while you can, because it’s showing signs of fading. Here’s our story.

In trade news, President Donald Trump keeps making a wildly misleading claim about trade between the US and Canada. And Gary Cohn is making a desperate effort to stop Trump’s trade war before it starts – and if he doesn’t, he may leave.

In retail news, Target’s quest to catch Amazon is failing miserably – and traders saw it coming. And Nordstrom rejected an “inadequate” buyout deal from Nordstrom family.

In tech, Amazon’s new checking account program is “less about disrupting” and “more about increasing engagement,” according to Bank of America. The US bank also identified 11 companies that are set to capitalise on the biggest changes in tech. And Morgan Stanley is looking to staff up its stock-research unit with crypto talent.

Lastly, meet the rising stars in NY tech who find hot startup deals and manage millions of dollars.

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