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Posted on 12/26/2018 1:39:40 PM PST by sodpoodle
The Dow Jones Industrial Average skyrocketed more than 1,000 points on Wednesday, its largest one-day point gain in its history, as rallies in retail and energy shares helped Wall Street regain the steep losses suffered in the previous session.
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The 30-stock Dow closed 1,086 points higher, or 4.98 percent. Wednesday’s gain also marked the biggest upside move on a percentage basis since March 23, 2009, when it rose 5.8 percentage points.
The S&P 500 also catapulted 4.96 percent — its best day since March 2009 — as the consumer discretionary, energy and tech sectors all climbed more than 6 percent. The Nasdaq Composite also had its best day since March 23, 2009, surging 5.84 percent.
Wednesday also marked the biggest post-Christmas rally for U.S. stocks ever.
(Excerpt) Read more at msn.com ...
I bet Cnn is all over this!
Ha, ha, liberal fruitcakes,,, I mean snowflakes,,, or whatever the hell you are.
Sucker’s rally...
Well that just kinda blows the spin they wanted to keep going from yesterday.
Probably Jerome Powell is taking Christmas vacation. Giving stock market a break. I hope he never come back.
Priceless. Absolutely priceless. :)
But.. But.. Trump said,, Buy Now.. and look what happened. *-o
Still a lot of cash on the sidelines.
Skynet stock market!
Nancy P. hit hardest
“Orange-man Trump leaves the country, forces Melania to go with him, market soars....”
I wonder if I will hear/see this tonight on abccbsnbccnnmsnbc?
Never mind.
5.56mm
“...Liberals disappointed.”
Could this be because Trump hit back at the Fed?
Easy folks,
This exact thing happened in Oct 2008 before the Great Recession...
Biggest Day Point Gain Ever (936.42)
Cindy Perma
Published 3:49 PM ET Mon, 13 Oct 2008
CNBC.com
Stocks bounced back from their worst week ever with one of their best performances in history as investors cheered a global cash infusion designed to unthaw the credit market and avoid a global meltdown.
The Dow Jones Industrial Average snapped an eight-day losing streak, gaining 936.42, or 11 percent, to close at 9,387.61.
It was the biggest point gain in the Dow’s history — nearly double the prior record of 499.2 set back in 2000 — and the biggest percentage gain since 1933.
Monday’s rally helped the Dow claw back about half of the 1,874, or 18 percent, it lost last week. That was the worst point and percent drop in market history.
The S&P 500advanced 11.6 percent, while theNasdaqgained 11.8 percent.
The CBOE Volatility Index, believed to be the best gauge of fear in the market, fell 14.8 points, or 21 percent, to 54.99, its biggest one-day point and percentage drop.
“Psychologically, there’s been a change in sentiment,” said Paul Brigandi, vice president of trading for Direxion Funds. “Last week, there was a lot of fear ... that the government was too little, too late and the market was spiraling out of control,” Brigandi said. “Now, people are saying, ‘Wow, this is an unprecedented effort ... there is a lot of liquidity being pumped into the market.’”
Volume was light, however, given the Columbus Day holiday. About 1.8 billion shares changed hands on the New York Stock Exchange, less than the average daily volume of about 1.9 billion and a far cry from Friday’s record volume of 11.16 billion shares. Advancers outpaced decliners, 20 to 1.
Fast Money: If US Buys Banks, Should You?
Markets in Asia advanced, while markets in Europe rallied 10 percent, their biggest one-day percentage gain on record, after major central banks pledged to lend unlimited amounts of dollars to commercial banks to unfreeze credit markets and after the U.K. announced plans to bail out three major banks — Royal Bank of Scotland, HBOS and Lloyds.
After the stomach-churning drops of recent weeks, a curious byproduct: Traders are actually saying openly that the bottom is in. Typically, no one wants to be within a 500-mile radius of calling the bottom.
“I think a short-term bottom was put in place on Friday,” Brigandi said.
“We’ve gone through three or four layers of what I thought was the bottom,” said David Bianco, chief U.S. equity strategist at UBS Investment Research. “Does it get any worse than last week?” he asked. “If that wasn’t it last week, I don’t know what was,” he said.
Bill Smith, president, CEO and senior portfolio manager at SAM Advisors, agrees and says if you have the guts, now is the time to buystocks like Research In Motion and Apple .
Investors were on it: Shares of Apple and Research In Motion jumped 14 percent and 15 percent, respectively.
Apple benefited from buzz that the company might announce a sub-$1,000 laptopon Tuesday as well as an analyst upgrade. Citigroup raised its rating on Apple to “market weight” from “underweight.”
Twitter battle for me today.
Lib, the market is up because Trump left the Country and went to Iraq.
Me, the Market was down because the Rats won the House.
So silly, but I couldn’t resist.
I wonder if the news that Holiday shopping hit an eight year record high had any impact?
.....Wild gyrations are a bad sign in the stock market.....
So ‘who’s’ really playing those wild cards?
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