US Capital Markets Review 12/15/18
The US capital markets had a down week this week, marked by a lot of volatility. The Russell 2000 performed the worst of the major indicies at -2.6% for the week, followed by the S&P 500 at -1.3% and the Dow Jones Industrial Average at -1.2%. Small caps were down more than large caps, and growth stocks did better than value stocks.
In terms of sector performance, there were not too many bright spots. Financial and energy got slammed at -3.5% and -3.3% for the week, respectively. Utilities did well at +0.6% for the wek, putting the sector up +7.1% for the year. Gold was down -0.9% for the week and closed at $1,238. Silver was flat for the week and closed at $14.50. Crude oil fell for a weekly loss of -2.7%, and closed at $51.14 per barrel (West Texas Intermediate).
Political news had a negative effect on the markets this week. There was Brexit drama, and British Prime Minister Theresa May faced a confidence vote which would have had an impact on the leadership of the country, but she passed and is now working further on the Brexit plan. Drama was also everywhere in US politics as President Trump clashed with Democratic leadership and neither side seems to be budging as a budget issues are coming to a head, to the point where up to 25% of the US government may be shut down in the next couple of weeks. The Mueller investigation also continued to plague the President, which creates uncertainty the markets do not like. A bright note was progress in trade talks between the US and China.
Cryptocurrencies started the week off well, but feel back down to have a mostly flat week. Bitcoin was down -2.6% for the week, currently at $3,185. Steem was down 2 cents and is currently at $0.22. EOS rebounded slightly, posting a weekly gain of +10% and is currently at $1.90.
Overall, 2018 has been a volatile year, and it has been tough to be an investor in cryptos and the US and global markets. 2019 outlook is anybody’s guess, but I remain almost fully invested.
Good luck,
Brian
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Such a valuable crypto market analysis. 2018 isn't a profitable year for investors but a good opportunity for making investment. This year is like 2014 but there is always a great hope on crypto market. I believe the market will be recovered very soon.