FYI: The Dow Jones Industrial Average tumbled more than 500 points Friday as investors continued to fret about trade-related tensions and the outlook for global growth, putting major indexes on track for weekly declines of more than 4%.
Reassuring data on U.S. employment and wage gains in November’s jobs report did little to ease investor jitters, and as the day went on, fears about the impact of tariffs on the U.S. economy spurred more selling.
Companies that do business and sell their products overseas, including technology companies like Nvidia and Intel , as well as industrial companies like Deere and Caterpillar , all declined more than 3%. Trump administration officials have said they plan to take a tough stand in their 90-day trade negotiations with China or impose further tariffs, reigniting concerns about global trade.
The Dow Jones Industrial Average and the S&P 500 opened with slight gains, but both indexes turned lower in the first hour of the session and steadily declined from there. The blue-chip index lost 559 points, or 2.2%, to 24,415, and the S&P 500 declined 2.3%. Both indexes slipped back into negative territory for the year. The tech-heavy Nasdaq Composite fell 3.0%.
Only Utilities of the eleven S&P 500 Sectors were in positive territory.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/stocks-show-signs-of-steadying-ahead-of-jobs-report-1544172486Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-12-07/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-06/asia-signals-mixed-start-for-stocks-yields-drop-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stocks-look-set-to-sink-ahead-of-key-friday-jobs-report-2018-12-07/printIBD:
https://www.investors.com/news/economy/dow-jones-falls-huawei-shows-donald-trump-is-winning-china-trade-war/Reuters:
https://www.reuters.com/article/us-global-markets/shares-mixed-wall-street-drops-on-trade-worries-oil-surges-idUSKBN1O601F?il=0CNBC:
https://www.cnbc.com/2018/12/07/stock-market-dow-futures-fall-ahead-of-unemployment-figures.htmlU.K.:
https://uk.reuters.com/article/uk-britain-stocks/oil-helps-ftse-100-end-turbulent-week-firmer-but-brexit-weighs-idUKKBN1O60Y7Europe:
https://www.cnbc.com/2018/12/07/european-markets-economic-data-in-focus-as-traders-track-opec-meeting.htmlAsia:
https://www.marketwatch.com/story/asian-markets-inch-forward-amid-us-china-friction-2018-12-06/printBonds:
https://www.cnbc.com/2018/12/07/treasury-yields-move-ahead-of-nonfarm-payrolls.htmlCurrencies:
https://www.cnbc.com/2018/12/07/forex-markets-dollar-us-treasurys-the-fed-in-focus.htmlOil:
https://www.cnbc.com/2018/12/07/oil-markets-crude-supply-opec-russia-in-focus.htmlGold
https://www.cnbc.com/2018/12/07/gold-markets-dollar-us-nonfarm-payrolls-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
