Are you an investor who has suffered losses through investing in Nuveen All Cap Energy MLP Opportunities Fund (NYSE: JMLP)? Haselkorn & Thibaut is investigating securities fraud and lapse of due diligence on the part of brokerage firms recommending Nuveen Energy MLP Total Return Fund (NYSE: JMF) and Nuveen All Cap Energy MLP Opportunities Fund (NYSE: JMLP). The investor law firm may be able to help investors recover losses through FINRA arbitration.
JMLP has declined over 80% the past year. And this is terrible news for all investors, particularly those who do not have the skill or funds that are required for such risky and complicated investments. The White Law Group is assessing the involvement of broker-dealer firms that likely recommended these high-risk funds to its clients. Ideally, MLP funds are best suited for high net worth and institutional investors with deep pockets.
Financial advisor may have recommended these funds to investors to benefit from yield. Unfortunately, investors were exposed to high volatility that results in falling dividends and crashing share value. If investors have not been apprised of the risks associated with MLPs, then broker-dealer firms are liable for legal action. Investment firms must ensure sufficient diversification in their clients’ portfolios. Failure to do so can leave investments vulnerable to the vagaries that accompany high-risk and volatile stocks.
If your stockbroker over-concentrated your portfolio, then you may be able to file a claim. Stockbrokers are required to make suitable investment recommendations based on the client’s age, net worth, investment experience, and objectives. One of the ways to reduce risk is diversification. It makes sure that portfolios are not over-concentrated to any specific sectors. It also limits exposure to particularly volatile industries like oil and gas can be unsuitable for many investors.
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InvestmentFraudLawyers.com has helped investors across America obtain justice from brokers through the process of FINRA arbitration claims. The firm is offering a free consultation to those who have faced losses by investing in the Nuveen All Cap Energy MLP Opportunities Fund.
Stock Market Afternoon Report
U.S. equity markets finished the day lower, with the S&P 500 -1.52%, the Dow -1.67% , the Nasdaq -1.53%, and the Russell 2000 -3.15%.
U.S. markets fell on weak economic data.
Asian markets dropped overnight . The Asian Development Bank said the coronavirus outbreak could cost the world anywhere between $2 trillion and $4.1 trillion depending on the severity of the outbreak. Caixin China Services Purchasing Managers’ Index data for March was stronger than expected and rebounded versus February but still remained in contraction territory. Markit Japan services purchasing manager’s index data for March showed new export orders fell by the most on record, signaling global demand is worsening.
European markets declined . Italian officials said they expect the country’s lockdown to extend beyond May 1 as it looks to slow the COVID-19 outbreak. The Dutch National Bank urged insurers to suspend their dividend payments and share buyback plans. After markets closed, Italy’s Ministry of Health said new coronavirus cases rose by 4,585 versus 4,688 yesterday and 4,782 on Wednesday. This marked the thirteenth consecutive day that new cases failed to rise above the March 21 peak.
U.S. markets fell on economic data…”CRASHED”
Nonfarm payrolls in March were much worse than expected, showing just how much the ongoing pandemic has undercut U.S. economic growth. Nonfarm payrolls fell by 701,000 in March, ending a nine-year stretch of employment growth. And unemployment jumped to 4.4%, from 3.5%. Speaker of the House Nancy Pelosi (D-CA) said the existing stimulus package wouldn’t be enough while pushing for a Phase 4 stimulus bill. ISM data showed that the services sector slowed to a three-and-a-half-year low in March.
More stimulus is on the way. The U.S. may soon start working on a fourth stimulus package, Italy is looking to give money directly to its citizens, and the U.K. is expanding its loan program for businesses.
The top sectors today were consumer staples, health care, and real estate. Gilead (GILD) led health care on positive sentiment surrounding its coronavirus treatment. Staples and real estate outperformed as defensive sectors. Conagra Brands (CAG) led the staples sector as packaged food demand continued to soar because of the coronavirus lockdown.
The worst performing sectors were utilities, communication services, and financials. Live Nation (LYV) weighed on the communications sector on fears of canceled events going well into the summer and fall. Synchrony Financial (SYF) weighed on the financial sector after receiving a cautious note from analysts at CFRA.
In the S&P 500, 10 of the 11 sectors finished lower.
The leading sectors were Consumer Staples +0.54%, Real Estate -0.77%, and Health Care -0.98%.
The laggards were Utilities -3.61%, Materials -2.35%, and Financials -2.24%.
Oil +12.40% gained on optimism that the oil price war was coming to an end.
Gold +0.63% rose on expectations of continued monetary policy actions from central banks.
Bitcoin -0.87% gave up some of yesterday’s gains.
Next week, we’re on the lookout for German Industrial Production for February, Initial Jobless, Continuing Claims, a speech from ECB President Christine Lagarde, and the Federal Reserve minutes for its March meeting.