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Cannabis Watch: Cannabis stocks drift lower as broader markets falter; Hexo hit by downgrade

Cannabis stocks were mostly lower on Tuesday, as the broader markets faltered and investors awaited the next key catalysts for the sector.

The Dow Jones Industrial Average and the S&P 500 were treading water ahead of remarks by Federal Reserve Chairman Jerome Powell later in the day. Stock market investors are also looking ahead to this weekend’s expected meeting between President Donald Trump and Chinese leader Xi Jinping amid growing hopes for cease-fire in the U.S.-China trade war.

In cannabis-related news, the number of banks and credit unions doing business in the cannabis sector has increased sharply in 2019 from 2018, according to advocacy site Marijuana Moment.

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