The Market Bull – December 20, 2018
After opening mixed the major averages closed with sharp losses on broken technical support. The days economic data was somewhat disappointing but fairly insignificant.
The Philadelphia Fed regional index fell 3.5 points to 9.4 in December despite gains in new orders and employment.
Price data was mixed but remains high.
Personal Income advanced 1% in the 3rd quarter and is tracking a respectable 4% annualized gain.
Income growth was led by the Rocky Mountain, Southwest and Western regions.
With the markets in freefall the Saint Louis Fed Financial Stress Index is on the march reaching -.78 in December, a 32-month high.
Standard and Poors 500 Index closed at: 2,467.42 down 39.54
NASDAQ finished at: 6,528.41 down 108.42.
Gold ended trading at: $1,265.70 down $2.20
This is Caleb Lawrence Registered Investment Adviser I can be reached directly 831-334-5318 or stop by my office 5321 Scotts Valley Drive in the Scotts Valley Plaza, Suite 202, Scotts Valley, Ca, 95066.
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