Non-recessionary bears are rare and not much worse than this. Over the past 40 years, the S&P 500 has experienced only one decline >20% that was not accompanied by a recession based on closing prices and that was 1987. It did come very close three times, falling 19% peak-to-trough in 1978, 1998, and 2011. No one can predict with certainty how far this latest selloff will go but fundamentals, including a low probability of recession in 2019, and historical perspective suggest much of this selloff may be behind us. (LPL)
The National Association of Realtors said existing home sales increased 1.9 percent Sales have now increased for two straight months. Existing home sales, which make up about 90 percent of U.S. home sales, fell 7.0 percent from a year ago in November, the largest annual drop since May 2011.
According to HireSanta LLC, a company that places hundreds of Saint Nicks throughout the U.S., most Santas typically rake in around $2,000 to $15,000 per holiday season, starting around Thanksgiving and ending on Christmas Day. (FBN)
S&P 500 is up 9 and the NASDAQ is up 33.
Oil is down 62 cents at $45.29 a barrel.
Gold is down $5 at $1263 a Troy ounce.
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.