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    Senior Member JohnDoe2's Avatar
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    Dow tumbles 551 points, 2018 stock gains gone

    Dow tumbles 551 points, 2018 stock gains gone

    Published November 20, 2018 Markets FOXBusiness


    Larry Kudlow: Stock market corrections come and go

    National Economic Council Director Larry Kudlow on the state of the U.S. markets and economy.


    U.S. stocks sold off across the board on Tuesday with the Dow Jones Industrial Average falling over 600 points, before trimming those declines. Losses accelerated in the final hour of trading as all major S&P 500 sectors tumbled led by energy, industrials, financials and tech. The volatility, in what is a short trading week due to Thanksgiving, erased yearly gains for the Dow, S&P 500 and essentially the Nasdaq Composite.
    Ticker Security Last Change %Chg
    IJI DOW JONES AVERAGES 24465.64 -551.80 -2.21%
    SP500 S&P 500 2641.89 -48.84 -1.82%
    I:COMP NASDAQ COMPOSITE INDEX 6908.8231 -119.65 -1.70%
    Commodities took a hit with oil falling about 7 percent, the biggest drop in more than three years, now hovering at the $53 per barrel level. In a statement President Trump indicated the U.S. will continue its working relationship with Saudi Arabia and later told reporters oil prices were in "great shape."
    After the United States, Saudi Arabia is the largest oil producing nation in the world. They have worked closely with us and have been very responsive to my requests to keeping oil prices at reasonable levels – so important for the world.
    President Donald J. Trump
    Ticker Security Last Change %Chg
    CLF19 Crude Oil 53.39 -3.81 -6.66%
    As for big tech, shares of Apple are officially sitting in a bear market, down 20 percent from October's record levels, as investors worry about some weakness in iPhone sales. This pressured the broader tech sector as Microsoft and Twitter also joined the retreat, while Amazon swung between losses and gains during the session.
    Ticker Security Last Change %Chg
    AAPL APPLE INC. 176.98 -8.88 -4.78%
    AMZN AMAZON.COM INC. 1,495.46 -16.83 -1.11%
    MSFT MICROSOFT CORP. 101.71 -2.91 -2.78%
    TWTR TWITTER INC. 31.06 -0.92 -2.88%
    Additionally, disappointing same-store sales weighed on shares of retailers, including Kohl's, Lowe's, TJX Companies, Ross Stores and Best Buy. Shares of Target plunged more than 10 percent after its third-quarter earnings and same-store sales missed estimates. Sales at Target stores open at least a year rose 5.1 percent, short of analysts' estimates of a 5.21 percent increase, according to IBES data from Refinitiv. Investors eyed this sector ahead of the key holiday shopping season.
    Ticker Security Last Change %Chg
    KSS KOHL'S CORP. 64.45 -6.55 -9.23%
    TGT TARGET CORP. 69.03 -8.12 -10.53%
    BBBY BED BATH & BEYOND INC. 12.38 -0.12 -0.96%
    LOW LOWE'S COMPANIES INC. 86.18 -5.17 -5.66%
    ROST ROSS STORES INC. 82.64 -8.55 -9.38%
    Ticker Security Last Change %Chg
    CLF19 Crude Oil 53.39 -3.81 -6.66%
    And bitcoin also tumbling. to the lowest level in more than a year.
    Economic news was mixed: Housing starts in October fell for the second straight month, but building permits rose from the previous month and beat analyst expectations.
    More Business News



    The selling was underway globally as well.
    Japan's Nikkei fell to a three-week low on Tuesday as a drop in Nasdaq shares dragged down Japanese tech names, while Nissan Motor tumbled on news of Chairman Carlos Ghosn's arrest and dismissal.
    The Nikkei average ended 1.1 percent lower. China’s Shanghai Composite retreated 1 percent. Hong Kong’s Hang Seng dropped 2 percent.
    In Europe, London’s FTSE traded down 0.1 percent, Germany’s DAX traded 0.7 percent lower and France’s CAC fell 0.7 percent.
    On Monday, U.S. stocks spiraled lower with U.S. tech companies, including Facebook and Apple, pacing the declines. The Nasdaq Composite fell 3 percent or 219.40 points. While the Dow Jones Industrial Average lost over 395.78 points or 1.5 percent, trimming what was a 500 point midday loss. While the broader S&P 500 lost 45.54 points or 1.6 percent.
    On the economic front, investors got spooked after U.S. homebuilder sentiment hit the lowest level in two years, according to the National Association of Home Builders. The association said its index of builder confidence dropped 8 points to 60, missing analyst expectations for the key metric.

    https://www.foxbusiness.com/markets/...h-retail-weigh

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  2. #2
    Moderator Beezer's Avatar
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    Doesn't it "tumble" every 4th quarter since the beginning of time?
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    DO NOT REWARD THEM - DEPORT THEM ALL

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    Senior Member JohnDoe2's Avatar
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    Some Dow stocks rally in the fourth quarter more than 80% of the time

    https://www.cnbc.com/.../10/.../some...arter-more-tha...

    Oct 2, 2017 - Dow stocks like Disney, Home Depot rally in the fourth quarter more than 80% of the time. Five Dow stocks tend to gain in the last three months of the year, ... UnitedHealth and Home Depot are the top performers, up nearly 10 ...
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    Senior Member JohnDoe2's Avatar
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    Will the stock market live up to the 4th quarter's reputation for strength ...

    https://www.marketwatch.com › Markets › U.S. & Canada › Market Snapshot
    Oct 1, 2017 - The fourth quarter is historically the strongest quarter of the year for the S&P 500 ... is up more than 10% year-to-date heading into the fourth quarter and makes ... The Dow Jones Industrial Average DJIA, -1.56% and S&P 500 ...
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