Hedge-fund star David Tepper says that the stock market’s violent Christmas Eve selloff has compelled him to “nibble” at beaten-down equities.
Speaking to CNBC’s Scott Wapner, Tepper stated the Dow Jones Industrial Average
, the S&P 500
and the Nasdaq Composite Index
, which all tumbled within the early minutes of Monday buying and selling, “had a pretty good move” decrease.
According to tweet from Wapner, Tepper implied that he was opportunistically shopping for, or “nibbling,” amid the session’s drop.
Tepper stated the market “had a pretty good move” decrease earlier this morning and “[t]hought it was too much of a move …”
David Tepper tells me that he is been “nibbling”on some shares right this moment. Said market “had a pretty good move” decrease earlier this morning. Thought it was too a lot of a transfer….
— Scott Wapner (@ScottWapnerCNBC) December 24, 2018
Stocks briefly got here off session lows, however the S&P 500 and the Dow are nonetheless buying and selling sharply decrease early Monday, even because the Nasdaq Composite
poked into optimistic territory.
U.S. stock-market buying and selling will wrap up for Monday at 1 p.m. Eastern and can be closed on Tuesday for Christmas.
Billionaire Tepper, one in all Wall Street’s prime hedge-fund all-timers, has been lower than bullish in latest months, saying this fall that he’d taken down his publicity to shares at Appaloosa Management, the place he manages some $14 billion.
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