Pause

Financial Review

…US stock markets closed to honor George H.W. Bush. They needed a break. Beige Book shows solid economy with a few headwinds. Friday Jobs report. OPEC meets tomorrow. Financial Review by Sinclair Noe for 12-05-2018 DOW = 25,027 SPX = 2700 NAS = 7158 RUT = 1480 10 Y = 2.92% OIL – .22 = 53.03 GOLD – .80 = 1238.20 The US stock exchanges were closed in observance of a national day of mourning for George H.W. Bush. This is the first time the market closed for the death of a president since 2007 for former President Gerald Ford. Stock index futures will reopen Wednesday evening at 6 p.m. Eastern, as usual. Wall Street could use the break. Yesterday, each of the three major indices closed lower by more than 3%. It was the worst session for the Dow and the S&P 500 since October 10, and the worst for the Nasdaq since October 24. The rout that sent US stocks reeling also engulfed markets overseas. The numerical decline in stocks on Tuesday is a bit scary, with the Dow lower by 799 points. However, the lost points tell only part of the story, as they have translated into smaller percentage declines over the years as the indices have gradually risen. The first move of more than 500 points for the Dow took place on Oct. 19, 1987, with a 508 point drop representing a 22.6% decline for the index. However, 500 points on Tuesday translated to ...

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