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The markets have had a wild week. After more than a year of steadily climbing, stocks spent the past six trading days all over the board.
Deep investor concerns about the U.S. economy and the European debt crisis caused heavy damage to U.S. stocks this week. All three indexes had their worst week since the darkest months of the 2008 ...
Fourth-quarter earnings season, which unofficially starts this week, is expected to reveal the first back-to-back decline in corporate profits since 2009, according to S&P Capital IQ.
Apple stock fell more than 50 percent, a bigger pummeling than taken by Intel, which last week readied investors for its own revenue shortfall.
The outlook for the U.S. economy remains robust. Consumer confidence hit a new 17-year high in February. And corporate profits, the real driver of stock prices, are booming.
Analysts had expected the figure to increase by 0.3%. The May installment of the ISM Manufacturing Index showed that U.S. manufacturing growth slowed in May.
As the 1920’s drew to a close, it seemed the market’s euphoria would never end. But, on Oct. 28 and 29, 1929, the stock market crashed, wiping out $14 billion in market value.
But the statistical standout could be this: the Nasdaq fell more than 25 percent this week, trouncing the 19 percent fall that began Oct. 21, 1987, Black Monday.
Those who missed out on the bull market may wonder if it's too late to get in now. Yet most market strategists are predicting more gains in 2018, especially as the impact of the tax overhaul are felt.
In fact, the best market days of the year occurred in December. The bottom line is that stocks moved higher because the U.S. economy just kept getting stronger, and corporate profits grew with it.