December 20, 2018

US stocks fell for another day as investors are still processing the Federal Reserve’s decision to raise benchmark interest rates yesterday and said that it would continue to let its massive balance sheet shrink at the current price. Fears of a government shutdown also sent stocks tumbling to new lows with the President not agreeing to sign a budget resolution that didn’t include the $5 billion to build the US-Mexico border wall that had been demanded. At the end of the day, the Dow Jones hit a 14 month low and the Nasdaq fell into bear market territory amid big losses in Amazon and Apple. Here’s a look at how we finished the day on Wall Street:

DOW -464 at 22859
SP500 -39 at 2467
NASDAQ -108 at 6528

The 10 Year Treasury yield closed up 1 basis point to yield 2.79%
Oil prices closed -2.11 at 46.06 a barrel
Gold prices closed +8.30 at 1264.80 an ounce

In the days’ stock news:

  • Nike is tracking for a nearly 20% loss for the quarter, which will be its worst performance since 2008 and stumbled another 2% today as it heads into earnings. They are expected to report after the close. NKE closed -1.44 at 67.53.