Hedge-fund star David Tepper says that a batch market’s aroused Christmas Eve selloff has compelled him to “nibble” during beaten-down equities.
Speaking to CNBC’s Scott Wapner, Tepper pronounced a Dow Jones Industrial Average
DJIA, -2.91%
, a SP 500
SPX, -2.71%
and a Nasdaq Composite Index
COMP, -2.21%
, that all tumbled in a early mins of Monday trading, “had a flattering good move” lower.
According to twitter from Wapner, Tepper pragmatic that he was opportunistically buying, or “nibbling,” amid a session’s drop.
Tepper pronounced a marketplace “had a flattering good move” reduce progressing this morning and “[t]hought it was too many of a pierce …”
David Tepper tells me that he’s been “nibbling”on some bonds today. Said marketplace “had a flattering good move” reduce progressing this morning. Thought it was too many of a move….
— Scott Wapner (@ScottWapnerCNBC) December 24, 2018
Stocks quickly came off event lows, though a SP 500 and a Dow are still trade neatly reduce early Monday, even as a Nasdaq Composite
COMP, -2.21%
poked into certain territory.
Despite a investor’s tweet, a batch marketplace logged a misfortune event on a day before Christmas in history. U.S. stock-market trade wrapped adult for Monday during 1 p.m. Eastern and will be sealed on Tuesday for Christmas.
Billionaire Tepper, one of Wall Street’s tip hedge-fund all-timers, has been reduction than bullish in new months, observant this tumble that he’d taken down his bearing to bonds during Appaloosa Management, where he manages some $14 billion.
Read: One of Wall Street’s many successful investors says a Fed stock-market salvation is left
Providing vicious information for a U.S. trade day. Subscribe to MarketWatch’s giveaway Need to Know newsletter. Sign adult here.
Mark DeCambre is MarketWatch’s markets editor. He is formed in New York. Follow him on Twitter @mdecambre.
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