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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 7:56 PM
Updated: Jan 1, 2019 8:17 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

Minnesota Coronavirus Cases

Data is updated nightly.

Cases: 933025

Reported Deaths: 9778
CountyCasesDeaths
Hennepin1819402058
Ramsey754961054
Dakota68992595
Anoka65423593
Washington41511368
Stearns34249288
St. Louis30218420
Scott26479189
Wright26415229
Olmsted22837131
Sherburne19326130
Carver1700272
Clay12286110
Blue Earth1170171
Rice11649141
Crow Wing11421124
Chisago1011781
Kandiyohi9962109
Otter Tail9951130
Benton9233128
Goodhue829599
Beltrami8283100
Douglas8015101
Itasca785499
Mower743849
McLeod729884
Isanti717485
Winona716558
Steele699534
Morrison682082
Becker634875
Polk611488
Freeborn574347
Carlton558778
Mille Lacs541380
Lyon536862
Nicollet532861
Nobles528954
Pine524443
Cass507656
Todd498744
Brown476461
Le Sueur468336
Meeker440660
Martin393345
Waseca387434
Wabasha382810
Dodge368712
Hubbard359649
Roseau323332
Fillmore311815
Wadena306740
Redwood284945
Houston277817
Renville272551
Faribault262835
Sibley258218
Kanabec256738
Pennington256130
Cottonwood234133
Aitkin227252
Chippewa222943
Pope210310
Watonwan202321
Yellow Medicine190325
Koochiching180425
Rock178829
Swift175424
Stevens170911
Jackson162416
Clearwater159821
Marshall155322
Murray153211
Pipestone152529
Lake134524
Lac qui Parle124525
Wilkin122516
Mahnomen108514
Norman106210
Grant103210
Big Stone9645
Lincoln9015
Kittson75323
Red Lake71910
Traverse6096
Unassigned561124
Lake of the Woods5305
Cook3151

Iowa Coronavirus Cases

Data is updated nightly.

Cases: 532160

Reported Deaths: 7379
CountyCasesDeaths
Polk81677809
Linn32838430
Scott27126295
Black Hawk22334382
Woodbury20736263
Johnson20150108
Dubuque18996243
Pottawattamie16215214
Dallas15573115
Story1398059
Warren8637107
Cerro Gordo8141125
Clinton7928115
Webster7419124
Des Moines7153106
Marshall675494
Muscatine6717117
Wapello6546145
Unassigned64520
Jasper630591
Sioux622477
Lee5977106
Marion567697
Buena Vista503449
Plymouth493388
Henry427155
Benton414760
Jones413564
Bremer403873
Boone397042
Washington395464
Carroll373355
Mahaska372366
Crawford355647
Jackson324047
Dickinson317555
Buchanan312743
Delaware303255
Clay297636
Kossuth293477
Fayette290356
Hardin289253
Tama282878
Page276133
Wright270050
Cedar269527
Winneshiek267744
Hamilton262757
Floyd261049
Clayton252360
Poweshiek242043
Harrison240979
Madison237425
Butler237346
Cass235667
Iowa234336
Jefferson228544
Mills225330
Hancock222840
Winnebago222339
Cherokee217347
Appanoose210157
Lyon209842
Allamakee209456
Calhoun199519
Shelby199542
Union197141
Humboldt188231
Franklin188031
Grundy186137
Chickasaw184522
Mitchell184343
Emmet180146
Louisa178653
Sac175626
Guthrie169338
Clarke163629
Montgomery163146
Keokuk152639
Palo Alto152332
Howard150624
Monroe144340
Ida134141
Greene128818
Davis126825
Lucas126127
Monona124940
Worth12309
Pocahontas122125
Adair118239
Osceola105718
Decatur104813
Taylor100914
Fremont98913
Van Buren95922
Wayne86125
Ringgold78429
Audubon77617
Adams5869
Rochester
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