FYI: U.S. stocks flipped between gains and losses Friday, following a week of dramatic swings on Wall Street that underscore the uncertainty gripping investors heading into 2019.
The Dow Jones Industrial Average fell 76 points, or 0.33%, to 23,062 after storming back with a record rebound Thursday. The S&P 500 fell less than 0.12% while the Nasdaq Composite climbed 0.8%.
All three major U.S. indexes are up at least 3% this week, on course to snap a three-week losing streak. Despite the gains, the indexes are all poised for annual losses for the first time since 2008, while the blue chips and the S&P 500 are on pace for their worst December since 1931.
Despite the rally this week, analysts remain cautious about the prospects for equity markets into the new year. Top of mind in the U.S. this week is the partial government shutdown, which is expected to continue into January.
Concerns that the U.S. economy is set for a slowdown have weighed on markets in recent months, as the effects of last year’s massive tax overhaul wear off and the Federal Reserve tightens monetary policy.
Larry Benedict, chief executive of The Opportunistic Trader, said this week’s gyrations have left him with more unanswered questions, which he says will likely set up 2019 to be a volatile year because of ongoing political and economic uncertainty.
“My main unanswered question this year is why is everybody in such a panic? If you look at other months that have seen these kind of sharp losses, they were all during a crisis. But we’re not in one right now, which is shocking.”
Mr. Benedict added that this week’s unprecedented moves have been due in part to the lack of liquidity in the market from the absence of players.
Only four led by Consumer Discretionary, of the S&P 500 Sectors finished in positive territory.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/wall-streets-late-rally-drives-global-stocks-higher-11545987880?mod=hp_lead_pos1Bloomberg Evening:
https://www.bloomberg.com/news/articles/2018-12-28/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2018-12-27/asia-stocks-face-mixed-open-after-late-u-s-bounce-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-futures-point-to-continued-volatility-for-wall-street-2018-12-28/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-fights-bull-run/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-st-s-two-day-rally-fades-on-tech-oil-weakness-idUSKCN1OR0WCCNBC:
https://www.cnbc.com/2018/12/28/us-stocks-and-futures-dow-sp-and-nasdaq-on-roller-coaster-week.htmlU.K.:
https://www.marketwatch.com/story/london-stocks-swing-higher-boosted-by-energy-and-mining-names-2018-12-28/printEurope:
https://www.marketwatch.com/story/european-stocks-higher-dax-set-to-close-2018-with-biggest-loss-in-10-years-2018-12-28/printAsia:
https://www.marketwatch.com/story/nikkei-retreats-while-other-asian-markets-eke-out-cautious-gains-2018-12-27/printBonds:
https://www.cnbc.com/2018/12/28/us-treasurys-fall-as-investors-move-back-to-risk-assets.htmlCurrencies:
https://www.cnbc.com/2018/12/28/forex-markets-japanese-yen-swiss-franc-us-china-trade-in-focus.htmlOil:
https://www.cnbc.com/2018/12/28/oil-markets-us-crude-supply-global-economy-in-focus.htmlGold
https://www.cnbc.com/2018/12/27/gold-markets-global-economy-us-politics-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 
