After opening lower the major averages struggled into the final hour with small gains on little news to begin the year.
Auto sales data came in as expected in November with Wards Auto reporting 17.5 million units sold on an annualized basis.
This marks a 3rd consecutive month of robust sales. That said car sales continue to slip as light truck and SUV sales advance.
Global stocks markets ended 2018 with a resounding thud. US markets all closed lower posting their worst performance in 10-years. For the year the Standard and Poors 500 Index fell 6.2% followed by the Dow Jones Industrial Average it lost 5.6%. The tech heavy NASDAQ fared better slipping 3.9%, though the FANG stocks took a real beating in the 4th quarter. European stocks also turned in their worst performance in 10-years The German DAX Index fell 16% for the year, the pan-European Stoxx 600 gave up 13%, while England’s FTSE 100 shed 12.5%. Asia also turned in its worst performance in 10-years after the two primary Chinese stock exchanges in Shanghai and Shenzhen fell more than 24% each. Hong Kong also fell hard in 2018 losing 13.6%.
Standard and Poors 500 Index closed at: 2,510.03 up 3.18
NASDAQ finished at: 6,665.94 up 30.66
Gold ended trading at: $1,286.50 up $5.20