Optimism over a "phase one" trade deal between the United States and China is pushing stocks to record highs in the final days of the year. But Wall Street banks still believe trade is one of the biggest risks for markets in 2020.
In a year when the Dow Jones Industrial Average has risen almost 20%, shattering one record after another, some newly public companies have been left in the cold.
Wall Street expects the longest bull market in American history to extend into next year. For all the concerns about slowing US economic growth, there's consensus that stocks can continue to rise.
Apple CEO Tim Cook shocked investors on January 2 by warning of slowing iPhone sales in China. Apple's stock plunged 10% the next day, dragging down the entire market along with it. But it's been all good news for the company ever since.
The US stock market moved almost exclusively in one direction this fall: up.
America's stock market is shrinking. The number of public companies has been cut roughly in half over the past two decades, mostly by choice.
There's more bad news for Slack: The messaging software company's stock plunged nearly 10% Tuesday after Microsoft announced that its rival Teams product has 20 million users. Slack said in September it had just 12 million customers.
Kohl's innovative strategy to draw customers into its stores won the company praise and fans on Wall Street. But shoppers are going elsewhere, and investors are losing confidence in Kohl's.
The recent euphoria on Wall Street suggests the American economy is roaring. Yet there is a growing risk that growth could grind to a near-halt during the final three months of the year.
Gap outlined a plan to rescue itself in February, and Wall Street was firmly behind it: The company would spin off its popular Old Navy brand in 2020 and focus on its own struggling flagship, as well as its Banana Republic, Athleta and Hill City lines.
