Financial Review

Uncertainty


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…Stocks finished mixed – up for the week – down for the month and year. A look at 2018 market movers. Financial Review by Sinclair Noe for 12-28-2018 DOW – 76 = 23,062 SPX – 3 = 2485 NAS + 5 = 6584 RUT + 6 = 1337 10 Y – .01 = 2.73% OIL + .47 = 45.08 GOLD + 5.10 = 1281.20   Up, down, up, down, up down – slightly negative at the end of trade. Today could have gone in any direction. There was a serious lack of commitment in trading today and stocks limped across the finish line.   Since the Christmas Eve nightmare, we have seen a nice bounce back for the major indices but a series of sharp sell-offs have left stocks on track for their worst December since the Great Depression. That would be the case if the S&P 500 closes below 2,594 on Monday. It finished at 2,485 today – so it looks like the worst December in 87 years.   The S&P 500 Index posted the biggest upward reversal in eight years during Thursday’s session, rallying back from a 2.8 percent deficit. One theory is that the about-face could reflect end-of-quarter adjustments by pension funds that have $60 billion of shares to buy this month. Institutional investors with large holdings in stocks and bonds use the end-of-quarter period to balance out holdings, adding to losers and cutting on winners. This time, they went big on U.S. large and small caps, ...
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Financial ReviewBy Sinclair Noe