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Dow rallies 1,000 points, logging its biggest single-day point gain ever

Common Sense 1

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A very nice recovery. Almost 5% back in your 401k.
The biggest one day point gain!


DOW RALLIES 1,000 POINTS, LOGGING ITS BIGGEST SINGLE-DAY POINT GAIN EVER

https://www.cnbc.com/2018/12/26/us-futures-following-christmas-eve-plunge.html

Stocks rose sharply in volatile trading on Wednesday as surges in retail and energy shares helped Wall Street regain the steep losses suffered in the previous session.

The Dow Jones Industrial Average traded 950 points higher as of 3:45 p.m. ET, while the S&P 500 gained 4.2 percent. The Nasdaq Composite outperformed, rising 5 percent.The Dow and S&P 500 traded lower earlier in the day.

Retailers were among the best performers on Wednesday, with the SPDR S&P Retail ETF (XRT) jumping 4.4 percent. Shares of Wayfair, Kohl's and Dollar General all rose at more than 6 percent. Data released by Mastercard SpendingPulse showed retailers were having their best holiday season in six years. Amazon's stock also jumped 7.3 percent after the company said it sold a record number of items this holiday season.




Dow Jones Industrial Average (.DJIow Jones Global Indexes)

Real Time Quote
Last | 4:08:50 PM EST
22,878.45 +1,086.25 (+4.98%)
 
The super-strong retail earnings from this month helped, i'm sure. Best in years.
 
Roadvirus said:
The super-strong retail earnings from this month helped, i'm sure. Best in years.
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Yes......

U.S. Holiday Retail Sales Are Strongest in Years, Early Data Show
Sales excluding autos rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard

https://www.wsj.com/articles/u-s-holiday-retail-sales-are-strongest-in-years-early-data-show-11545777668


Shoppers delivered the strongest holiday sales increase for U.S. retailers in six years, according to early data.

Total U.S. retail sales, excluding automobiles, rose 5.1% between Nov. 1 and Dec. 24 from a year earlier, according to Mastercard SpendingPulse, which tracks both online and in-store spending with all forms of payment. Overall, U.S. consumers spent over $850 billion this holiday season, according to Mastercard.

The figures suggest a stock-market swoon and partial government shutdown haven’t curbed consumer confidence and spending.
 
The stock market losses are only a reaction to the Fed's interest rate hikes, the financial industry now offering less risky returns than the stock market now that the interest rates have gone up 4 times this year. A return to more normal interest rates, a correction, not a calamity, as some have claimed, clearly.
 
It's Trump's fault.
 
The stock market is like a roller coaster, you only get hurt if you jump off in the middle of the ride.

I think I heard that from Dave Ramsey. He’s right.
 

Trump did it!
 
apdst said:
Why shouldn't he? If he gets the blame for the losses, he should get credit for the gains.
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he took the blame for the losses?

ROTFLMAO
 
It is good news but let's not get carried away. There's still a ways to go before we recover recent losses.
 

And yet......

https://www.bloomberg.com/news/arti...-outflows-surge-to-56-billion-most-since-2008

Investors are bailing out of mutual funds as if it were 2008.

Mutual funds suffered redemptions of $56.2 billion in the week ended Dec. 19, the biggest outflow since the week ended Oct. 15, 2008, according to data released Wednesday by the Investment Company Institute. Even as investors were dumping mutual funds last week, they added $25.2 billion to exchange-traded funds.
 
apdst said:
I said "he got blamed" for the losses.
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To be fair, he did create an atmosphere that has led to a big downturn and his policies have eroded what was a healthy market.
 
The Man said:
The stock market is like a roller coaster, you only get hurt if you jump off in the middle of the ride.

I think I heard that from Dave Ramsey. He’s right.
Click to expand...

The guy gives good advice.
 
apdst said:
Why shouldn't he? If he gets the blame for the losses, he should get credit for the gains.
Click to expand...

A. He doesn't accept blame for the losses.

B. It's not that simple. The market is resilient. It tries to find a way no matter what crap Trump pulls. The current market volatility is very much at the feet of our volatile president.

C. He doesn't accept blame for the losses.

D. He doesn't accept blame for the losses.
 
noonereal said:
To be fair, he did create an atmosphere that has led to a big downturn and his policies have eroded what was a healthy market.
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No they haven't. The Market reacted to Democrat wins in the midterms and The Fed raising interest against President Trump wishes.

Now it's reacting to higher than expected Xmas consumer spending, which was made possible by the Trump economy.

GDP growth is the most complete measure of an economies health. 2018 will be well above 3% (something Obama could never do).

There is little doubt 2019 will be the same.
 

see #22
 
Jack Fabulous said:
It is good news but let's not get carried away. There's still a ways to go before we recover recent losses.
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This is a good sign. I was wondering when the carnage would stop. The market had big days inter-day the past few weeks but would taper off big-time.

But you are correct. I need to see 3-5 days like this in a row before I can really embrace the market.

I think there will be a big-time rally soon. Companies are still earning at high levels. Until that changes, I don't see a massive bear market. I could be wrong, but we are not in a recession. Until we are, I am optimistic.
 
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