? Rapid stock market sell off continues | The Closing Beat ?

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Every day when the stock market closes we update our clients and subscribers about the important or interesting things that moved the stock market and your retirement investments. We leave the opinion out…mostly. Our goal is to educate briefly on what moved the stock markets, what may be coming up, and how your investments, or retirement portfolio may have been impacted by the day’s news.

Here’s a look at what investors were focused on today:
The markets sold off yet again today as the decline continues to rapidly push to new lows each and every day. Today the markets tried to get a little rally off the lows as the Fed commented that they may reconsider rate hikes and balance sheet actions if needed and that they do listen to the markets and it’s volatility. Despite this little rally attempt the bulls remained in control with the Dow 30 closing lower on the day by 414, the S&P 500 losing 50, and the Nasdaq 100 closing down on the day by 195.
Sector News
Consumer discretionary was higher today mostly due to Nike and their earnings beat. Home Depot (NYSE: HD) is also a major player in this space which enjoyed a nice gain as well. Just this week alone the consumer discretionary sector has fallen over 5%, becoming extended to the downside in the short term.
Communication services was one of the weaker areas of the markets today thanks in part to Facebook (NYSE: FB) which broke to new 52 week lows. The communications services sector has sold off nearly 20% since the start of October.
Stock News
Nike (NYSE: NKE) shares shot higher today as the company reported earnings and revenue for the previous quarter that easily beat Wall Streets expectations. The company showed that they have strong demand across the globe despite trade issues. The CEO told investors that the trade war has had no impact on their business. Technical traders will note the inability for the stock to move above the 200 day moving average despite the strong beat.
CarMax (NYSE: KMX) shares came off their lows today as the company reported earnings which beat analyst expectations. Revenue was lower however, as was store sales but investors chose to focus on overall gross profits which rose 1.5%, as well as their auto financing which grew as well despite the higher rates.
Goldman Sachs (NYSE: GS) shares broke to new lows today as it was announced that the criminal probe in the Malaysian investment fund would be expanded and Malaysia now wants a $7.5 billion payment made by Goldman for it’s role in the fraud.

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The One says:

I don't need a brokerage firm but am looking for concrete investment advice about where to invest and who to invest in. Does Jazz Wealth do this? Or is there any place someone can recommend?

cing earth cingearth says:

will interest rates rise ? yes I believe the federal reserve will continue to push interest rates up to 2 percent more over the next couple of years to get back to normal fed interest rates ! stock market will continue to fall !

Matthew Monroe says:

Would you recommend Wealthfront for a Roth Ira right now? Thinking about opening up one today and setting my risk tolerance to 9. Any feedback would be greatly appreciated. Thanks.

L W says:

Something good… I bumped into your channel when I was searching around trying to figure out if it was good to take a loan out of my 401k to pay off my stupidly (no I didn't pay attention I just grabbed the first one shown at me to build credit) high interest rate credit card that had racked up thousands of debt. You gave me the confidence for me to want to pull the trigger to pay off something like that in some show of yours from much earlier in the year. So I kicked off the 401k loan and paid off the 22(!) % interest CC completely so basically several thousand of my 401k made me a ton of money instead of getting eaten up by the pull back thanks to the timing (it started in mid Oct).

So thanks in part to you, I had dang near perfect timing in pulling a drastic financial change at dang near the perfect time! Thanks so much.

michael smith says:

If the world is going to end and you want to be in Gold shouldn't you be in real gold and not paper gold?

Louis Tineo says:

How long does the average market correction last?

Louis Tineo says:

Best show on YouTube! Happy holidays!

Bruce Smith says:

Thanks for the info Dustin I'm waiting for some good news outta the market to.

Motortiger05 says:

Thanks for doing the daily show. I get much from you than watching Fast Money on CNBC.

TrumpArmy ofKentucky says:

I'm so sick of the so called defense budget. Probably 300 billion out of the 785 billion is being spent this year on weapons that will be sold to foreign countries. Is our government making a profit off of those weapons sales or taking a loss. Who is making the profit the government or the weapons manufacturers. We have no idea what that money is going to. We pay taxes to a government that tells us your not allowed to know what your taxes go to.

Kirk Royse says:

The Fed loves raising rates on Republicans

pasha904 says:

Merry Christmas! Appreciate what u do! Any thoughts on teva?

1979wood says:

Monday will be the short day it will be enough for major damage to be done in stock market. Lol

milo74156 says:

Sell sell sell

Mario cruz says:

Is time to buy right now, the economy is lower but is very good, the fundamental good for many companies, invest in full moon!!!! Invest in full moon!!

var1328 says:

Bitcoin and gold dropping too – so where is the money going? Online CD’s? ?

var1328 says:

Red alert! To all TSP savers. Time to hit the “G” spot 100% Get out of stocks – We have been deceived by Wall Street sharks ?

Eloi Andaluz Fullà says:

Oh boy, I will need one of your towels. I start investing on february and its… depresing. 🙂 When you consider is a good moment to start adding positions on all this discounts? or this is a falling knife?

Deus Titties says:

It's been ugly for quite some time. Technology sector has been dropping down like crazy

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