FIRST AIRED: December 31, 2018

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Transcript

00:00:00
>>
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>> US stocks closed up Monday despite 2018 being Wall Street's worst year in a decade. With the S&P 500 suffering its worst December since 1931.>> So this is a little bit of I don't want to say shock, but it's an eye-opener for people definitely.
00:00:19
>> Reuters markets reporter Charles Mikolajczak explaining that rising interest rates, US-China trade friction, and fears of diminishing corporate profits have led to a change in investor behavior.>> What we saw>> Really the last 10 years for the most part was, any time there was a dip investors would swoop back in, buy it up.
00:00:39
In the past year we've seen that mentality sort of do a 180 where now when it dips They're staying away. When it does go up, they're more than willing to dump and just book a profit when they can.>> That shift in psychology largely due to worries that Federal Reserve Chair Jerome Powell, the target of frequent attacks by President Trump, will be too aggressive on raising interest rates.
00:01:02
Causing shock waves throughout the market.>> Maybe Chair Powell's learning on his feet a little bit about how to deal with the media and investors. But he, whereas past chairmans Have been a little more concerned and a little more reactive to what the market does. At this point, he doesn't seem to be doing that as much.
00:01:21
>> I can't tell you when the government's gonna be open.>> The partial US government shutdown also a concern. And while predict stocks to tick up in 2019, investors are likely to remain cautious.>> With all the stuff that Is going on. Wall Street, if it is going to keep climbing, is going to have to climb the proverbial wall of worry.