Dow to close 2018 after roller coaster ride

The stock market is on track for its worst December since the Great Depression leaving investors looking for a fresh start in 2019.

Posted: Jan 1, 2019 8:53 PM
Updated: Jan 1, 2019 9:17 PM

1. Final day of trading: Investors are saying goodbye and good riddance to 2018.

The Dow is down 6.7% so far this year. The S&P 500 has dropped 7% over the same period and Nasdaq has shed 4.6%.

December has been an exceptionally wild month on Wall Street. In the past 10 trading days, the Dow fell more than 350 points six times. There was also one day when the Dow rose by 1,000 points — the biggest point gain ever.

The market is in a historic period of volatility. The S&P 500 was up or down more than 1% nine times in December and 64 times this year. In all of 2017, that happened only eight times.

Many major global stock markets were closed Monday. US stock futures were higher ahead of the final trading session of 2018.

2. China fears: China's manufacturing sector contracted for the first time in two and a half years in December.

The latest reading of the government's official purchasing managers index came in at 49.4, lower than what economists polled by Reuters had expected. A reading below 50 indicates that the manufacturing sector contracted compared to the previous month.

China's economy is feeling the effects of a darkening trade outlook and government attempts to rein in risky lending after a rapid rise in debt levels. Growth in 2018 is set to be the weakest since 1990. Analysts expect that next year could be even worse.

Fears about China's economic health have already rippled through financial markets. The country's benchmark stock index plunged into a bear market in June and is down 25% since the start of the year. The jitters have also affected markets in Europe and the United States.

3. Carlos Ghosn saga: A Japanese court has ruled that Carlos Ghosn, who has been detained in Tokyo for the past six weeks, can be held for a further 10 days without bail. That means the former Nissan chairman will likely remain in jail until at least January 11.

Prosecutors have alleged that Ghosn temporarily shifted 1.85 billion yen ($16.6 million) of losses from his private investments onto a Nissan subsidiary as the global financial crisis erupted in October 2008.

The auto executive was indicted on December 10 on separate allegations he under-reported his income by tens of millions of dollars between 2010 and 2015 in Nissan disclosures.

Ghosn's detention has shaken the international auto industry and strained the alliance he built between Nissan (NSANY), Renault (RNSDF) and Mitsubishi Motors (MMTOF).

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4. Coming this week:

Monday — Last trading day of 2018
Tuesday — Markets closed for New Years Day
Wednesday — Chicago Purchasing Managers' Index
Thursday — ISM manufacturing index
Friday — Jobs report for December

Indiana Coronavirus Cases

Data is updated nightly.

Cases: 730969

Reported Deaths: 13434
CountyCasesDeaths
Marion1000031743
Lake53771970
Allen40668678
St. Joseph35733552
Hamilton35629408
Elkhart28577442
Tippecanoe22402219
Vanderburgh22310397
Porter18776308
Johnson17970379
Hendricks17244315
Clark12985191
Madison12673339
Vigo12449247
LaPorte11928211
Monroe11893170
Delaware10696186
Howard9924216
Kosciusko9410117
Hancock8284141
Bartholomew8070156
Warrick7784155
Floyd7669178
Grant7060174
Wayne7051199
Boone6700101
Morgan6576139
Dubois6156117
Marshall6050111
Dearborn581378
Cass5808105
Henry5720103
Noble561384
Jackson501773
Shelby491996
Lawrence4546120
Harrison435872
Gibson435492
DeKalb428485
Clinton427453
Montgomery424189
Whitley396139
Huntington391980
Steuben387857
Miami381866
Knox371990
Jasper366047
Putnam360760
Wabash354179
Adams341354
Ripley339770
Jefferson330981
White314354
Daviess297399
Wells291581
Decatur285492
Fayette280762
Greene278985
Posey271533
LaGrange266770
Scott266354
Clay260247
Randolph240781
Washington240732
Spencer232131
Jennings230149
Starke216654
Fountain212346
Sullivan211942
Owen200256
Fulton195440
Jay195130
Carroll189320
Orange183654
Perry183037
Rush173425
Vermillion169143
Franklin168135
Tipton162845
Parke146316
Blackford134932
Pike134334
Pulaski116845
Newton107834
Brown102141
Crawford99814
Benton98614
Martin89115
Warren82115
Switzerland7918
Union71010
Ohio56811
Unassigned0416

Ohio Coronavirus Cases

Data is updated nightly.

Cases: 1085733

Reported Deaths: 19441
CountyCasesDeaths
Franklin1261201400
Cuyahoga1124072120
Hamilton801491206
Montgomery515591014
Summit47292946
Lucas42275788
Butler38396584
Stark32412907
Lorain25046481
Warren24313300
Mahoning21629588
Lake20725369
Clermont19803238
Delaware18537133
Licking16436212
Fairfield16230200
Trumbull16082468
Medina15309264
Greene15099244
Clark14017299
Wood13113189
Portage12890203
Allen11675232
Richland11382199
Miami10686217
Wayne8843211
Columbiana8816229
Muskingum8815133
Pickaway8582121
Marion8539135
Tuscarawas8487244
Erie7917154
Hancock6929127
Ross6858155
Ashtabula6830170
Geauga6697148
Scioto6417101
Belmont5920167
Union571048
Lawrence5560102
Jefferson5544151
Huron5439119
Darke5364123
Sandusky5359121
Seneca5290121
Athens520058
Washington5160109
Auglaize491984
Mercer480885
Shelby470093
Knox4495110
Madison436661
Putnam4287100
Fulton423969
Ashland423189
Defiance421097
Crawford3978107
Brown395057
Logan382376
Preble379898
Clinton372963
Ottawa367479
Highland355662
Williams340275
Champaign333458
Guernsey316253
Jackson312652
Perry295350
Morrow285639
Fayette282250
Hardin271464
Henry269366
Coshocton265357
Holmes2611101
Van Wert243763
Adams238552
Pike237734
Gallia235949
Wyandot231555
Hocking215462
Carroll191647
Paulding173340
Meigs144940
Noble133337
Monroe132342
Harrison108537
Morgan108523
Vinton83515
Unassigned02
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Van Wert
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High pressure will pave the way to another mostly sunny and pleasant day.
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