Dow Nears Record High but this Spooked $200 Billion Fund is Cashing Out

By CCN Markets: The Dow Jones closed in on record highs on Thursday, but for one billion dollar fund, this is the perfect time to lock in profits.  Pictet Wealth Management, which manages $222 billion, is cashing out of stocks at the top of the market and piling up cash reserves. The fund is now building a defensive portfolio in the face of global trade war fears. Is it a sign that the Dow Jones rally is running out of steam? Dow futures jump 200 points, just shy of record high Dow Jones Industrial Average futures surged on Thursday after the Federal

The post Dow Nears Record High but this Spooked $200 Billion Fund is Cashing Out appeared first on CCN Markets

source https://www.ccn.com/market-news/dow-nears-record-high-200-billion-fund-cashing-out-stocks/2019/06/20/

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