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Swinging shares; The end of Sears; Chenault resigns



That's the simplest explanation for the dizziness of US stocks this week. Markets have rallied in two consecutive sessions, but they still have their worst December since the Great Depression.

Here is a perspective as investors prepare for the penultimate trading session of 2018: The Dow has lost 6.4% so far this year. The Nasdaq fell 4.7% and the S & P 500 fell 6.9%.

The losses for December are steeper. All three US indices fell by around 10%.

. 2 The end of Sears? Sears is approaching a crucial moment to see if it can survive.

The bankrupt company set Friday as a deadline for potential buyers to bid for its assets. He wants someone to buy about 500 of his stores and the Kenmore appliance brand to keep Sears and Kmart open for business.

Sears told a bankruptcy court that it has interest from several parties. The only public bidder for these assets is the hedge fund, which is controlled by Sears chairman Eddie Lampert, who served as CEO until the company's bankruptcy.

Lampert has until Friday to make his bid official. If this is not the case and no other firm offers are made, the company will have to make a critical decision.

Sears could extend the deadline or accept a defeat and initiate a plan to close down all his businesses and liquidate his assets.

. 3 P & G and IBM lose a board member: Kenneth Chenault, the former chairman and CEO of American Express, is leaving the boards of P & G (PG) and IBM (IBM).

Both companies said that his retirement would come into effect on February 1

3. P & G said in an application for approval, Chenault wanted "more time to focus on a series of activities in the next phase of his life".

Member of Facebook (FB). The news that he was cutting his other commitments sparked speculation that he might be named chairman of Facebook.
The social media giant has quashed these rumors and told Axios that Chenault would stay on the board without changing his role.
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4. Earnings and Efficiency: The data on upcoming home sales for November are released at 10:00 ET. The Crude Oil Report for December 22 will be published at 11:00 ET.

5th Coming Week:
Friday
– Expecting Home Sales for November


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