Near term factors:
China trade fears
Long term factors:
FED economic outlook
Some key numbers today had investors worried. The IMF lowered their forecast on global growth from 3.7% to 3.5% and the National Association of Realtors reported a big miss of existing homes sales down 6.4% for December. This was a substantial miss compared to the previous months in home sales according to the Realtors Association. Also, Stanley Black & Decker managed to post decent earnings yet announced a daunting 2019 guidance which plunged the stock down by 16% in today's trading. Others, are now worried “Do It Yourself” stocks will be hit like Home Depot or Lowes.
Even though these may just be subtle hints at the global economy taking a “pause” it tends to get the attention of most people these days. This is a skittish market that isn’t afraid to sell at a whiff of bad news. There could be more to all of this than the eye sees. In the most recent recovery from the Christmas lows we thought we were in the clear. Some say that with the government shut down and poor guidance for 2019 could result in a retest of the lows in December.
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