ICYMI, Weekly Stock Market Recap. Dec 3-7, 2018
In case you missed it, this week stock mover news. The U.S. markets started out with upbeat on Monday as possible trade truce with China, but as the day goes by that was not the case. With the arrest of Huawei, CFO makes the trade war escalated. The most liable indicator for the economic downturn was the inverted yield curve hit below zero for the first time since 2007 then follow up with a recession in 2008.
Monday the U.S. and China temporarily halted trade war escalation at the G-20 summit meeting over the weekend. Dow Jones jumps 287.97 points, SPY +1.32%, QQQ +1.75%, IWM +0.96%, IBB +1.15%.
- GlaxoSmithKline (GSK) buy TESARO Inc (TSRO) for $75.00 per share or approximately $5.1B
- Global Blood Therapeutics Inc (GBT) FDA acceptance of voxelotor accelerated approval
- Biohaven Pharmaceutical Holding Company LTD (BHVN) Zydis trial achieved statistical significance on co-primary endpoints
Tuesday anxiety of trade war hit the U.S. market again, in afternoon POTUS tweet that he is a 'tariff man' if China makes no deal. For the first time, since 2007 the yield curve of 2-yr and 5-yr inverted, a great indicator of the slow economy ahead. Dow Jones -799.36 points
- Amazon.com (AMZN) Trump panel seek higher postal shipping rate
- IBB -3.30%
- QQQ -3.84%
- SPY -3.19%
- IWM -4.22%
Wednesday the U.S. markets closed in mourning of President Bus
Thursday Huawei CFO was arrested in Canada, bring more trade war tension to the market Dow Jones drops 700 points intraday and 1,500 in two days. The market's recovery after the Fed intervenes with 'wait and see' of rate interest and see how strong economy in coming months. Dow Jones ended the day down -79.42 points, SPY -0.15%, IBB +0.16%, XBI +0.30%, and QQQ +0.71%
- Supernus Pharmaceuticals Inc (SUPN) clinical data update Phase 3 studies of SPN-182 met the primary endpoint
- Conatus Pharmaceuticals (CNAT) data failed, stock down -56.89%
- Tesla, Inc (TSLA) stock notably showing strength throughout the week when the market plunges.
- Amazon.com (AMZN) stock made recovery off low to end the day +1.85% to 1,688.19
Friday the U.S. economic data, nonfarm payrolls 161k vs251k expected, the unemployment rate 3.7%.. Dow Jones -558.72 points, SPY -2.29%, QQQ -3.30%, IWM -2.15%, IBB -3.03%.
- Apple (AAPL) intraday erases year-to-date gain, stock down -3.57% to $168.49
- Alphabet (GOOGL) (GOOG) erases year-to-date gain, stock down -2.92% to 1,046.58
- NVIDIA Corporation (NVDA) -6.26% to $147.61 near their 52 weeks low at $133.31
- Lululemon Athletica Inc (LULU) earnings report slide, down -13.37%
- Telsa Inc (TSLA) stock from the morning up high to $379.49 to close in red at $357.96
- Amazon.com (AMZN) one of the biggest intraday reversal, from high 1718.93 to closed in red at 1,629.13