US. Stocks sideways on Monday for a long week by market catalysts.
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" = "text" content = "The S & P 500 ( ^ GSPC ) dropped 0.04% or 1.02 points at 11:11 ET The Dow (^ DJI) dropped 0.16 or 38.2 points while the Nasdaq (IXIC) increased by 0.09% or 6.62 points. "Data-reactid =" 1
The Russell 2000 small-cap index (^ RUT) is on the way to a bear market when it drops at least 20% from its August high of 1,740.75 points. This would mean closing at or below 1,392.59 points. The index reached an intraday low of 1,392.22 points on Monday morning ET, before rebounding slightly.
Last week's stock prices have been hit and are struggling to reverse the current losses of the year. The S & P 500 fell 2.75% last Friday at the close on Friday.
The final political meeting of the Federal Reserve, which was held on Tuesday and Wednesday in Washington, DC, in 2018, will be central to this week's events as investors seek the way forward for future rate hikes. It is expected that policy makers will announce a fourth rate hike this year. However, recent economic data has helped to dispel concerns about overheating in the labor market and inflation. These factors, along with concerns that global growth is slowing down, are causing some economists to expect the Fed to remain thoughtful. Many US Federal Reserve officials have repeatedly affirmed that they will rely on data to guide the way forward. This indicates flexibility in their monetary policy decisions due to changing market conditions.
President Donald Trump continued his print campaign against the US Federal Reserve on Monday in a tweet. They say that "a very strong dollar and virtually no inflation" in the US should signal the Fed not to raise interest rates. The US dollar index has so far risen by 5.8% this year, while the core personal consumption expenditure index – the Fed's favorite inflation gauge – is below the Fed's inflation target of 2% (as of October).
It is unbelievable that with a very strong dollar and virtually no inflation, the outside world explodes around us, burning Paris and putting China at the bottom. The Fed is even considering another rate hike. Take the Victory!
– Donald J. Trump (@realDonaldTrump) December 17, 2018
Washington is only five days away from a partial government downtime by the end of the week. Lawmakers have struggled to come to an agreement on spending bills in the midst of a dispute over the planned Trump boundary wall. Trump has demanded $ 5 billion to fund the Wall, but Democrats are unwilling to spend more than $ 1 billion. If the closure is realized, this will be the third funding gap of the federal government in 2018. While a lengthy closure of the state could ultimately lead to concerns about the upper limits of the debt ceiling, financing gaps otherwise have otherwise made only a few big waves on the stock market.
STOCKS: Malaysia lodges criminal charges against Goldman Sachs over 1MDB scandal, Google is investing billions in New York
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt ( 0.8em.)) – sm "type =" text "content =" Malaysia has filed its first indictment on Monday against Goldman Sachs (GS) and several former employees allegedly stealing bonds backed by government bonds Amount of $ 2.7 billion to be liberated from 1Malaysia Development Berhad (1MBD) which garnered $ 6.5 billion: Prosecutors demand fines of $ 3.3 billion from Goldman Sachs and the defendants, which consisted of the allegedly abused amount and $ 600 million in fees that Goldman had received for the bids The bank said the charges were "misguided" and intended to "vigorously defend it." Goldman Sachs' shares fell fell 1.78% to $ 169.69 (ET) at 11:01 ET and fell slightly after reaching a new 52-week low of $ 168.05 per share. "Data-reactid =" 24 " Malaysia first charged Goldman Sachs (GS) and several former employees on Monday for allegedly stealing $ 2.7 billion in government bonds Published by 1Malaysia Development Berhad (1MBD) The $ 6.5 billion collected: Prosecutors are demanding fines from Goldman Sachs and the defendants over $ 3.3 billion, resulting from the allegedly abused amount and $ 600 million Goldman Sachs shares fell 1.78% to $ 169.69 at 11:01 ET. Goldman Sachs shares were "misguided" and intend to "vigorously defend." Goldman Sachs shares fell 1.78% to $ 169.69 at 11:01 ET – Dollars per share A new 52-week low of $ 168.05 per share.
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Healthcare stocks came under pressure after a federal judge in Texas found the Affordable Care Act unconstitutional on Friday. The judge said the bill must be repealed because the Congress lifted a tax penalty for waiving health insurance in 2017, which was the basis for the 2012 Supreme Court ruling that declared the law unconstitutional. Companies participating in Medicaid and Obamacare public exchanges fell on Monday. Centene Corporation (CNC) and Molina Healthcare (MOH), which each have an EPS exposure of more than 40% to ACA according to analysts at JP Morgan, fell 6.66% and 13.65%, respectively, at 11.66 (ET). , "Data-reactid =" 41 "> Healthcare stocks came under pressure after a federal judge in Texas found the Affordable Care Act unconstitutional on Friday, saying that the law must be put down Congress abolished a tax penalty in 2017 The health insurance that formed the basis for the 2012 Supreme Court ruling was not anchored: the companies that participated in the Medicaid and Obamacare public exchanges collapsed on Monday. CNC) and Molina Healthcare (MOH), JP Morgan analysts Each had an EPS exposure of more than 40% to ACA, down 6.66%, or 13.65%, at 11.66 (ET).  ECONOMY: Empire State Manufacturing Index Drops to 19-Month Low
<p-class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – -sm "type =" text "content =" The Empire State Manufacturing Index fell 12.3 points to 10.9 in December, the lowest since May 2017, the New York Fed said Monday. According to Bloomberg, expectations were for a headline reading of 20. The results suggest that business activity in New York is growing at a slower rate than in recent months. The index of paid prices fell to 39.7 over the month, indicating a slowdown in wholesale price increases. Companies were slightly less optimistic about the half-year outlook than in the previous month. The index for future business conditions fell by three points to 30.6. However, the employment index rose 12 points to 26.1, indicating "very strong growth in employment levels," the New York Fed said. "Data-reactid =" 43 "> The Empire State Manufacturing Industry Index Drops 12.3 The US Federal Reserve of New York issued a statement on Monday, the lowest since May 2017. Consensus expectations, according to Bloomberg, are headlines from 20. The results point to slower growth in New York state business than in recent months: the paid-price index fell to 39.7 for the month, indicating a slowdown in commodity price increases Monthly outlook somewhat less optimistic than in the previous month Future business conditions fell three points to 30.6, but the employment index rose 12 points to 26.1, indicating "very strong employment growth," New said York Fed.
<p class = "canvas Atom Canvas Tex t Mb (1.0 em) Mb (0) – sm Mt (0.8 em) – sm" type = "text" content = "" At first glance, this decline in the Empire State index seems to indicate that the index for the national ISM index fell from 59.3 in November to about 56, "said Ian Shepherdson, chief economist of Pantheon Macroeconomics, in a statement. "But the sub-indices in the Empire State poll were far less bad than the headline, and the employment index surprised by a surprise jump of 14 points, offsetting declines in orders, deliveries and inventories." "data-reactid =" 44 ">" At first glance, this decline in the Empire State Index appears to point to a sharp decline in the national ISM index for manufacturing (ISM) from 59.3 in November Maybe 56 to close, "Ian Shepherdson, chief economist at Pantheon Macroeconomics said in a note," But the sub-indices of the Empire State poll were far less bad than the headline, with a surprising increase in the employment index by 14 points, which declines Compared with orders, deliveries, and inventories, it largely compensated. "
National Association of Home Builders home index declines dropped in December to their lowest level since May 2015, based on NAHB's latest report, which declined 4 points in December on 56, while the consensus estimates had the demand for ah eadline reading 60 for the month, but values over 50 are rated as positive In the three components of the index, current sales fell 6 points to 61, sales expectations for the next 6 months dropped 4 points to 61, and shoppers dropped 2 points to 43.
<p class = "Canvas Atom Canvas Text Mb (1.0) Mb (0) – sm Mt (0.8em) – sm "type =" text "content =" "" We hear from builders that consumer demand exists, but customers do not hesitate a purchase because of rising housing costs, "said the NAHB. "data-reactid =" 46 ">" "We hear from builders that consumer demand exists, but customers are reluctant to make a purchase from rising housing costs," said NAHB.
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck "data-reactid =" 48 "> Emily McCormick is a reporter for Yahoo Finance. Follow her on Twitter: @emily_mcck
<p class = "Canvas Atom Canvas Text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Follow Yahoo Finance on Twitter Facebook, Instagram, Flipboard, LinkedIn and reddit. "data-reactid =" 49 "> Follow Yahoo Finance on Twitter Facebook, Instagram, Flipboard, LinkedIn, and Reddit.
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