December has been a rough month on Wall Street. Sell-offs have plagued the major US exchanges across the board, which many analysts did not predict. Now, the big debate remains. Will the sell-offs continue? Wall Street analysts are back and forth on it. Let’s take a closer look at this bit of Wall Street news!
Wall Street News Today
There are few people on Wall Street that remember a December this low. Currently, the Dow and S&P 500 are headed toward the biggest losses in December since the Great Depression. That’s right, the Great Depression.
In addition to this, the Dow and S&P 500 are both in the red for the year, putting stocks on track to have their worst annual loss since the housing crises and great recession back in 2008. Many analysts on Wall Street believe that investors have been concerned that the economy will slow in 2019 due to the trade war with China and the US Federal Reserve raising rates.
In the past, December has usually been a solid month for the market, due to professional money managers often buying top-performing stocks to make their portfolios look good. This strategy is often called ‘window dressing.’
It remains unknown what money managers will do these next two weeks. Today in wall street news, tech stocks have been pulling up the Dow and S&P 500. However, the price of oil continues to slide.
The biggest piece of Wall Street news released today is centered around President Trump’s plea to the Federal Reserve. The Fed is set to decide on raising the rate or stalling tomorrow. The US President has asked them to pause but the odds it will be raised remain at better than four in five, according to federal funds futures.
If the rates are hiked tomorrow, this could mean strong sell-offs and the worst December on Wall Street in 80 years.
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