Daily Archives: Jan 8, 2019 at 07:57 am EDT

Ranking The Current US Stock Market Drawdown vs. History

It’s anyone’s guess if the recent rebound in US equities will soon push the S&P 500 Index to a new high. What we do know is that the market has staged a solid bounce so far. For the eight trading days since Christmas Eve’s close, when the S&P’s current drawdown hit bottom, the index is up a solid 8.4%. There’s still a long climb ahead to recover the remaining ground lost since the S&P’s previous peak, set on September 20. To reach that summit the index would have to rally roughly 15% over yesterday’s close (January 7).
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Macro Briefing: 8 January 2019

Trump to address nation on Tues night to address border-wall issue: Fox
Partial gov’t shutdown is starting to reverberate across US economy: NY Times
House GOP leaders suggest support fading for Trump’s shutdown fight: Politico
Analyst: US recession risk is elevated without end to US-China trade war: CNBC
Hints of progress in US-China trade talks: Bloomberg
North Korea’s Kim visits China for talks with President Xi: Reuters
Samsung is 2nd tech giant to suffer from China’s softer economy: Bloomberg
China’s economic growth has slipped below the key 6% mark, says analyst: CNBC
Small-cap stocks in focus as haven from big-cap woes: WSJ
US job openings increasingly outnumber jobless workers: Reuters
Germany’s weak industrial sector raises recession risk: Bloomberg
US ISM Non-Mfg Index: growth slows to 5-month low in December: MW