In US markets on Monday, the Dow was up +265 points or +1.15%, the S&P 500 was up +0.85% while the NASDAQ was unchanged. Wall Street concluded a tumultuous 2018 as the major stock indexes posted their worst yearly performances since the financial crisis. After solid gains on Monday, the S&P 500 and Dow Jones were down 6.2% and 5.6% respectively for 2018. Both indexes logged their biggest annual losses since 2008, while the NASDAQ lost 3.8%, its worst in a decade. 2018 was a year fraught with volatility, characterized by record highs and sharp reversals. The major averages trimmed some of their sharp annual losses on Monday on hopes of trade progress between China and the US. President Trump said this weekend he had a “very good call” with Chinese President Xi Jinping to discuss trade. The president also claimed that “big progress” was being made on this front.
