Stock market today: Dow logs longest losing streak since 1978 as stocks slide ahead of Fed decision

[question everything]

US stocks fell across the board on Tuesday, with the Dow logging its biggest losing streak in 46 years.

The Dow Jones Industrial Average (^DJI) finished the session down roughly 0.6%, registering its ninth straight day of losses. The last 9-day losing streak for the Dow was Feb. 1978. Prior to that, the index suffered an 11-day losing streak in 1974 and another in 1971.

The other major indexes dropped in tandem on Tuesday, with the benchmark S&P 500 (^GSPC) falling around 0.4% and the Nasdaq Composite (^IXIC) losing about 0.3% after the tech-heavy index closed at a record high on Monday.

Fed policymakers kicked off their final gathering of the year earlier in the trading day, amid almost total conviction that a 0.25% rate cut is coming on Wednesday. Some on Wall Street suspect it could be the last cut for some time, as inflation proves persistent. Given that, the focus is on clues to the path of rates next year — and in January, in particular.

https://finance.yahoo.com/news/live/stock-market-today-dow-logs-longest-losing-streak-since-1978-as-stocks-slide-ahead-of-fed-decision-210053679.html

[dweller]

1. It's in anticipation

of Pisswig’s term … he gets ALLLL the credit now



✌🏻

[DeepWinter]

9. If you look

at the years average and growth, this isn't a bad thing. It's still a part of the upward trend and expected correction.

[nmmi]

2. 6-month graph of DOW.

Last edited Wed Dec 18, 2024, 05:09 PM - Edit history (1)

It takes them some hours to update it. It closed today, 12/17, at 43,450 (the graph has updated)

The link, xttps://kshitij.com/images/graph-gallery/equities/djiacandle_files/djiadataupto98_8190_image001.png
but replace the first "x" with an "h",

imbeds into DU posts and updates automatically, but with a few hours delay.

ETA - I just saw this:

https://finance.yahoo.com/news/why-the-dow-is-suddenly-in-a-historic-funk-230823272.html

This erroneously reports today's close as 43,499. It closed at 43,449.90.(rounds to 43,450) according to finance.yahoo.com and https://www.cnn.com/markets

Edited to add Dec 18 after market close The Dow closed down 2.58% today, Dec 18 at 42,326.87, so a little above the midway point between the 42,000 line and the 42,500 line. When it finally updates. Yesterday it didn't update until about 11 PM ET.

[WarGamer]

3. up 15% on the year...

[nmmi]

5. S&P 500 up 26.9% YTD

S&P 500 Closing prices:
12/17/24: 6050.61
12/29/23 CL: 4769.83

https://finance.yahoo.com/quote/%5EGSPC/history/

PLUS dividends

[WarGamer]

11. I know but we were talking about the DOW...

Which absolutely DIED today, lol...

[nmmi]

12. I just added the bit about the S&P 500 yesterday with the intent of agreeing with your previous post that stocks

are up considerably YTD, at least that's what I thought was the point you were making by pointing out that the DOW was up 15% YTD. I was just adding a little information. And anyway, the S&P 500 is far far more representative of the U.S. stock market than the 30 price-weighted stocks in the DOW.

I see today, December 18, they both took a shellacing, thanks to Powell signaling to expect fewer rate cuts in 2025 than was previously indicated by the dot plots. (Although he did cut the rate today by 0.25% as was almost universally expected)

Dow down 2.58% today, S&P 500 down 2.95% today.
But even with that, YTD, the DOW is up 12.3%, and the S&P 500 up 23.1%.

Dow went from 37,689.54 on 12/29/23 close to 42,326.87 today
https://finance.yahoo.com/quote/%5EDJI/history/

S&P 500 went from 4,769.83 on 12/29/23 close to 5872.16 today
https://finance.yahoo.com/quote/%5EGSPC/history/

[WarGamer]

13. JPow being a bit too slow on the drawdown of rates...

What do you think? 2025 looking bullish or bearish?

I'm thinking might be time for the long awaited recession.

[Fiendish Thingy]

4. What a silly story.

Down .6% over nine days, but still up 15% for the year.

Uncertainty about the road ahead, yet Bidenomics is still going strong.

[nmmi]

7. Unfortunately, it's in the Economy Group too, with no attempt whatsoever to provide any perspective. None.

https://www.democraticunderground.com/111699178

[mercuryblues]

6. I blame it on Trump ringing the bell

[BoRaGard]

8. The G.O.P. recession is off to an early start

[Vinca]

10. I can't make heads or tails of the stock market anymore. Nothing seems based on the actual value of a company,

it's on all kinds of extraneous things. I thought the Fed was expected to lower rates again. Isn't that a good thing for a business? Guess I'll keep stuffing money in my mattress.