Preset files are not allowed to export objects

You're using a combination of Babel 6 and Babel 7. There is no guarantee of compatibility across versions:

"@babel/core": "^7.0.0-beta.40","babel-cli": "^6.26.0","babel-loader": "^8.0.0-beta.0","babel-plugin-lodash": "^3.3.2","babel-plugin-react-transform": "^3.0.0","babel-preset-react": "^6.24.1",

should be

"@babel/core": "^7.0.0-beta.40","@babel/cli": "^7.0.0-beta.40","babel-loader": "^8.0.0-beta.0","babel-plugin-lodash": "^3.3.2","babel-plugin-react-transform": "^3.0.0","@babel/preset-react": "^7.0.0-beta.40",

and

    query: {      presets: ['react', 'es2015'],      plugins: ['transform-class-properties']    }

would be

    query: {      presets: ['@babel/react', '@babel/es2015'],      plugins: ['@babel/proposal-class-properties']    }

I'm also confused because you didn't mention @babel/proposal-class-properties in your package.json, but assuming it is in there it should also be updated.

It happened to me and a simple solution for me was to uninstall babel-loader@8^ and @babel/core:

npm uninstall --save babel-loadernpm uninstall --save @babel/core

… and then to install version 7 babel-loader:

npm install --save-dev babel-loader@^7

Got the same issue in my webpack/react project - it seems that there was an issue with the .babelrc file.

I updated it as seen below and it did the trick:

{    "presets": [        "@babel/preset-env",        "@babel/preset-react"    ],    "plugins": [        "transform-class-properties",        "transform-object-rest-spread"    ]}