Korey Bauer: Cannabis Growth and Dow Jones

korey bauer: The number fueled fears that the U.S. economy is slowing as trade tensions between the U.S. and China and Mexico persist, according to Market Watch. The cannabis sector was looking oversold after a recent major selloff, said Korey Bauer, portfolio manager of the Cannabis Growth mutual fund CANNX, 1.99% recently launched by Foothill Capital Management. The Dow Jones Industrial Average DJIA, 1.02%was up 290 points in midday trade, after news that the economy added just 75,000 new jobs in the month, well below forecasts for 185,000. Overall risk assets are doing well as the weak jobs number and wage growth are a signal that the Fed may have to move soon. A bipartisan cannabis banking bill, the Secure And Fair Enforcement SAFE Banking Act, is moving closer to a full floor vote after it was placed on the Union Calendar, as advocacy site Marijuana Moment reported. On the regulatory front, the effort to protect banks that do business with cannabis companies from federal enforcement action made progress this week, he said. (news.financializer.com). As reported in the news.