FYI: U.S. stocks resumed their slide Friday as disappointing economic data from China and the eurozone sparked a retreat by wary investors and traders who were hesitant to enter the weekend with big bets.
The steep drop at the end of the week has become a pattern: The Dow Jones Industrial Average’s fall of more than 1.6% Friday would mark its third-steepest drop this month. The other two declines also came a day before the stock market was set to be closed.
Investors and traders say they are uneasy entering the weekend with large bets on the stocks in such volatile times. Adding to that discomfort: the frequent geopolitical developments over weekends when stock markets are closed.
“We have a political machine that’s able to communicate any time of the day,” said Andrew Slimmon, senior portfolio manager with Morgan Stanley Investment Management. “Who wants to take the risk that something comes up and you’re long?”
The Dow Jones Industrial Average declined 496 points to 24,100, and the S&P 500 fell 1.9%. The Nasdaq Composite dropped 2.2%. With those losses, the Dow industrials and S&P 500 are on track to end the week lower, while the Nasdaq Composite is still on pace to end the week with a gain of about 1%.
The declines, led by technology and other companies closely linked to the Chinese and global economy, signaled the weekslong choppiness in markets around the globe isn’t over, despite a slight reprieve earlier in the week.
All eleven S&P 500 Sectors were in negative territory, led by Healthcare down over 3.5%.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/stocks-drop-as-chinese-economy-falters-11544776971?mod=hp_lead_pos1Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2018-12-14/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-13/asia-stocks-to-dip-as-rally-stalls-dollar-climbs-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-under-pressure-after-weak-china-data-2018-12-14/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-falls-almost-500-points-apple-bottom/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-drops-on-global-growth-fears-jj-tumbles-on-reuters-report-idUSKBN1OD1HPCNBC:
https://www.cnbc.com/2018/12/14/us-stock-futures-dow-jones-sp-500-nasdaq-to-open-lower-on-friday.htmlU.K.:
https://www.marketwatch.com/story/china-slowdown-brexit-grind-pulls-uk-stock-markets-lower-2018-12-14/printEurope:
https://www.reuters.com/article/us-europe-stocks/european-shares-on-track-for-worst-quarter-since-2011-idUSKBN1OD0WLAsia:
https://www.marketwatch.com/story/asia-stocks-take-a-hit-from-economic-data-early-friday-following-2-days-of-gains-2018-12-13/printBonds:
https://www.cnbc.com/2018/12/14/bond-market-treasury-yields-fall-amid-chinese-data-fed-meeting-looms.htmlCurrencies:
https://www.cnbc.com/2018/12/14/forex-us-dollar-up-ahead-of-fed-rate-hike-euro-flat-on-ecb-outlook.htmlOil:
https://www.cnbc.com/2018/12/14/oil-prices-fall-as-investors-take-profits-amid-china-economy-worries.htmlGold
https://www.cnbc.com/2018/12/14/precious-metals-gold-steady-as-investor-focus-turns-to-fed-meet.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
