Friday, December 28, 2018
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WHAT TO WATCH
What will the stock market do next? On Thursday, markets staged a stunning reversal with the Dow falling 611 points early in the day only to close higher by 260 points. This comes after Wednesday’s 1,086 point rally. Will the market rebound continue or will the whipsawing action return?
Due to the partial government shutdown, planned advance goods trade balance for November and wholesale inventories data will be postponed. Retail inventories, pending home sales and Chicago Purchasing Managers Index data will still be released Friday. Economists polled by Bloomberg are expecting pending home sales to have jumped 1% and Chicago Purchasing Managers Index reading of 61.
Best and worst performing international stock markets of 2018: As US markets plunged deep into the red at the end of the year and many benchmark Asian and European indices endured bruising losses, a range of emerging markets held onto their gains. [Yahoo Finance UK]
The real reason Trump hates Fed rate hikes: Every time the Federal Reserve raises interest rates, it costs President Donald Trump money. Maybe that’s why Trump has been lacerating the Fed for raising short-term rates, which now stand at a range of 2.25% to 2.5%. [Yahoo Finance]
The investment that cost Apple $9B in 2018: Like many large companies, Apple (AAPL) has used much of its windfall from the 2017 tax overhaul to buy back shares. But the recent plunge in stock prices has made that look like a bad idea. [The Wall Street Journal]
Green Growth Brands plans hostile offer for Canada's Aphria: U.S. cannabis retailer Green Growth Brands Ltd. is planning to launch a hostile takeover bid for Aphria Inc. that values the Canadian marijuana producer at almost C$2.8 billion ($2.1 billion). [Bloomberg]
The sexiest investment for 2019: On January 23, 2018, Ray Dalio said at the World Economic Forum in Davos, Switzerland, “If you’re holding cash, you’re going to feel pretty stupid.” By the end of 2018, cash was one of the only investments that earned investors a positive return for the year. [Yahoo Finance]
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