If you’re an active trader or looking for stock market news today, this is probably the one-millionth headline you’ve read with the phrase “Recession Begins” in the title. Apologies for that, but it’s true; we’re officially in a technical recession. For those unfamiliar with the definition of a recession, it’s two consecutive quarters of negative GDP growth.
With the definition of recession being met, some may find it interesting that markets aren’t completely failing. That’s likely because of a tighter labor market and that consumers are still spending. Nevertheless, the point is that (for now) recession isn’t scaring the stock market today.
Better yet, there is still somewhat of a risk-on appetite for things like penny stocks. Today we look at the biotech sector for some of the hot stocks to watch today. While the overall biotech market is trending lower, small- and micro-cap stocks are giving some reprieve at the moment.
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