The Dow, S & P 500, and Nasdaq all rallied to big wins – quartz

The Dow Jones Industrial Average received a late Christmas present today (December 26) and recorded its biggest one-day score ever.

Before the clock, Dow climbed 1,086 points and became a brutal 653 point plunge on Monday, the worst Christmas Eve ever. (US stock exchange closed on Christmas Eve.) Today's 4.7% increase was Dow's largest percentage gain since 2009, ranked as one of the index's largest one-day percent gains since 2000.

Dow joined its strong S & P performance 500 and Nasdaq, who saw their own highest percentage gains since 2011. S&P was 4.2%, and Nasdaq jumped 5%.

The day was especially cheerful for merchandising. MasterCard reported that US retail sales increased by 5.1% to the top $ 850 billion this high season – their highest growth in six years – led by clothing and home improvement. Amazon also announced a record-breaking holiday, although the company never actually reveals which sales figures are breaking.

Anyway, investors were welcome to the news. "The recent salesoff reflected the fear of an imminent recession, which was blown away by Amazon and other dealers reporting a record holiday sales," said Ed Yardeni, president of Yardeni Research, Washington Post (paywall). "Santa's back."

Big gains such as today's have often followed significant losses in the previous 10 days, and the rebound does not mean that the anxiety that led to Christmas Eve has disappeared. "We still have ways to go," said John Augustine, chief investment officer at Huntington Private Bank, CNBC. "We must have three days to move higher into this wave of selling."

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