Market Bull

Another Big Week

Another Big Week
The Market Bull 2019

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The Market Bull – January 18, 2019

Stocks close out another big week with large gains on little real news. Since Monday the Standard and Poors 500 Index increased 91 points or 3.53%, while the NASDAQ advanced 226 points or 3.26%.

Industrial Production gained .3% in December despite a large drop in utilities output on strength in Autos and Parts production and to a lesser extent mining. Capacity utilization increased fractionally to 78.7%.

December’s sharp market losses and the government shutdown dented consumer sentiment as the University of Michigan index fell 7.6 points to 90.7.

The California Association of Realtors or CAR reports that home sales fell for an 8th consecutive month in December down 13% on a year ago basis, inventory climbed 31% on the same basis. For the year as a whole 2018 marked the first annual decline in sales in 4-years with 372,260 homes sold statewide. Other highlights from the report include, A fifth month in a row that sales were below 400,000 in December, and the lowest level of sales sold since January 2015. While inventory for sale increased sharply over the year it remains fairly low at just 3.5 months’ supply.

Standard and Poors 500 Index closed at: 2,670.71 up 34.75
NASDAQ finished the day: 7,157.23 up 72.76
Gold ended trading at: $1,280.40 down $11.90

Drop The Tariffs

Stocks shoot higher late on rumors of a trade war cease fire. Philadelphia Fed gains in January. European auto sales tumble late, finish 2018 about even.

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Trade Prices Slip

Stocks finish with modest gains. Mortgage activity jumps again. Beige Book more modest growth, some risks. Trade prices slip for a second month.

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Brexit Vote Fails

Markets close with large gains despite generally disappointing data. The Brexit vote fails badly. Chinese auto sales fall again. December PPI just 2.4%.

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Earnings Reporting

Major averages struggle to begin the week, earnings reporting gets underway. China’s economy takes a trade war hit. Wages grow, primarily legislative.

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Best Start

Major averages kick off 2019 with a bang. Since Monday the S&P 500 is up 60 points or 2.4%, the NASDAQ gained 213 points or 3.2% for the week.

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Markets Higher

Major averages close with modest gains. Washington’s political environment grows increasingly toxic. Is the Fed riding to the rescue again?

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No Trade Progress

Major averages close with modest gains. A 6th round of trade talks with the Chinese closes with little progress. Mortgage activity jumps, rates fall.

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Real Estate Softens

Consumer credit jumps 22.1 billion in November led by student and auto loans. Formerly hot real estate markets feature sharply rising inventory and price concessions.

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Interest Rate Cuts

The major averages begin the week with large gains on little news. ISM Services Index falls to 57.6 in December. Odds grow for an interest rate cut.

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Huge Gains

The major averages recover all of yesterday’s sickening plunge and them some. Employment report handily beats expectations.

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Caleb Lawrence

Registered Investment Adviser

5321 Scotts Valley Drive
Suite #202
Scotts Valley, CA 95066

Toll Free: (888) 742-4744
Local: (831) 334-5318

After nearly 19 years of live radio it was time to move on to new projects. My daily economic update can still be found on my Blog and the I-Tunes and Google Play stores as a podcast. Or you can call my office 831-334-5318 and take advantage of my still “free” after 20+ years initial consultation.  Usually about an hour, will have an opportunity to get to know each other better and address your specific concerns on a one to one basis.