First, the broad market shot to new all-time highs.
Then the trouble started…
Yesterday’s carnage was ominous. After two weeks of churning, stocks fell headfirst down a particularly steep staircase. Just a handful of names escaped without injury.
Here are the stats, courtesy of Bespoke Investment Group:
Just 2 Dow stocks finished the day in positive territory. Only 7 NASDAQ 100 stocks were up. And just 37 S&P 500 stocks squeaked out gains. That’s brutal…
Stocks have opened sharply higher for the second straight day. On Wednesday right after the opening bell rang in New York, the Dow was up 400 points, the S&P 500 was up 45 points, and the Nasdaq was up 130 points.
WASHINGTON – The United States economy likely expanded slightly in the fourth quarter, according to data on Friday that suggested a surprise drop in GDP reported by the government last week was overstated.
The U.S. trade deficit narrowed to its lowest point in nearly three years in December on a drop in oil imports and a surge in exports.
Trade data for December paint a reassuring and encouraging picture of the U.S. economy at the end of last year