Seems no one in Washington, which thrives on investigations, has raised an eyebrow on the stock market’s big up-and-down gyrations in the past three months, noted Grumpy Editor.
Heading into the new year, many investors said they reined in their optimism as investment experts warned 2019 will be another volatile year.
The Dow on Friday closed at 23,433.16. up a whopping 747 points from Thursday when the Dow plunged 660 points.
Reason for the Thursday drop was attributed to technology companies suffering their worst loss in seven years and health of the global economy.
The plunge, peppered with warnings of recession on the horizon, threatened to shake up confidence and spending plans of U.S. businesses and consumers.
Then the next day’s rebound came with hopes for progress in the U.S.-China dispute, a strong report on the jobs market (with 312,000 positions added last month) and encouraging comments on interest rate policy from the head of the U.S. central bank.
“We expect a bear market rally to develop over the coming weeks, and we expect a new bull market to develop over the coming months to quarters,” said Ari Wald, a technical analyst at Oppenheimer & Co.
Meanwhile, the latest Rasmussen Reports national survey finds 54 percent of adults think 2019 will be at least a good year. That includes 15 percent who expect it to be one of the best years ever, 18 percent who feel it will be an excellent year and 21 percent who say it will be a good year. Only 19 percent expect 2019 to be a poor year.
IN CASE YOUR FAVORITE NEWS OUTLETS MISSED THESE…
MOST MANUFACTURING JOBS ADDED SINCE 1997. Bureau of Labor Statistics said the economy added 284,000 manufacturing jobs last year, the largest increase since 1997 which saw a 304,000 gain in that category.
U.S. MILITARY PERSONNEL SENT TO AFRICA. The U.S. has deployed military personnel to Central Africa to protect U.S. assets from possible “violent demonstrations” in Congo.
QANTAS AIRLINES NAMED SAFEST IN 2018. Qantas was nominated as the world’s safest airline for 2019 by AirlineRatings.com, a product rating website. Others in the top 20: Air New Zealand, Alaska Airlines, All Nippon Airways, American Airlines, Austrian Airlines, British Airways, Cathay Pacific Airways, Emirates, EVA Air, Finnair, Hawaiian Airlines, KLM, Lufthansa, Qatar, Scandinavian Airline System, Singapore Airlines, Swiss, United Airlines and the Virgin group of airlines (Atlantic and Australia).
INMATES EAT WELL IN FRONT OF DISGRUNTLED NON-PAID STAFFERS. The partial government shutdown created “a delicious irony at federal prisons — inmates dining on lavish holiday meals in front of disgruntled staffers forced to work without pay,” pointed out NBC News. The news network added that "inmates at FCI Pekin in Illinois enjoyed a fancy meal of steak and shrimp on Jan. 1. Cornish hen and Boston Creme pie were on the menu at the Metropolitan Detention Center in Brooklyn. And the prisoners at a federal institution in Minnesota munched on heaping plates of chicken wings."
NEW JERSEY BIDS FAREWELL, VERMONT WELCOMES. A United Van Lines study found more people moved out of New Jersey than any other state in 2018 while more people moved to Vermont. The moving company found 66.8 percent of moves in New Jersey were outbound while more people moved to Vermont than any other state, with a rate of 72.6 percent for inbound migration.
BIG TUNA SELLS FOR BIG BUCKS IN JAPAN. A 612-pound bluefin tuna sold for a record $3 million at auction at Tokyo’s Tsukiji market.
Comments