The Market Bull – January 17, 2019
After spending most of the day about even on little news. Rumors late that we would drop the tariffs on Chinese goods in the interest of the markets sent them shooting higher as they closed today with modest gains. More and more real estate markets are reporting slower sales and climbing inventory and while not alarming yet, the trend is definitely going in the wrong direction.
The Philadelphia Fed regional index gained 7.6 points in January to 17 on strength in new orders, price data slipped again but remains fairly high.
Europe joins China in reporting disastrous car sales data into the close of 2018 after the European market reported a 4th consecutive month of falling sales.
This cut sales growth in 2018 to just .1% as total sales came in at 15.16 million units.
Standard and Poors 500 Index closed at: 2,635.96 up 19.86
NASDAQ finished the day: 7,084.46 up 49.77
Gold ended trading at: $1,291.40 down $2.40