The markets rallied into the final days of 2018, though the year still finished with the worst performance since 2008. The Dow kicked off 2019 lower but managed to recover from a nearly 400 point loss early on to close higher across the board. Disappointing economic data from around the world and lingering concerns over global trade continue to weigh on investors. Manufacturing activity in China contracted for the first time in 19 months while the euro zone manufacturing PMI remained at its lowest level since February 2016. At the end of another volatile day, here’s a look at how the day closed on Wall Street:
DOW +18 at 23346
SP500 +3 at 2510
NASDAQ +30 at 6665
The 10 Year Treasury yield closed down 2.5 basis points to yield 2.66%
Oil prices closed +1.20 at 46.60 a barrel
Gold prices closed +2.80 at 1284.10 an ounce
In the days’ stock news:
- Tesla shares tumbled nearly 7% as the company missed Wall Street vehicle delivery estimates and announced plans to cut prices on all of its models by $2000. TSLA closed -22.68 at 310.12.
- Netflix shares fall to start the year as analysts say subscriber growth fell short last quarter. NFLX managed to close the day flat after trading down most of the day.
- Chief Financial Officer Spencer Neumann is being fired from Activision Blizzard and The Wall Street Journal reports he will be named as the new CFO at Netflix as early as this week.