Dow Jones Skyrockets for Biggest Single-Day Gain in History
After a terrible few weeks, culminating in one of its worst Christmas Eves ever, the Dow Jones makes history in a day-late Christmas gift (which is clearly all it is)
12/26/18, 6:20 pm EST
By John Corry, photo from USA Today
Almost 1,100 points in a single day: that’s what the Dow Jones gained over the course of today, its biggest gain in a single day in its history.
Amazon up 9.5%, Facebook and Netflix up 8%, Marathon Oil 11.9%, Hess 11%, Kohls 10.3% and Nike 7.2%. The gains come on the heels of no real political news, which is rare, but may also play a bigger hand than it may seem at first, given the nature of the political cycle over the past two years and the fact that most news anymore has the market showing losses, not gains.
For anyone actively involved in the stock market, this comes as very good news. On Monday, on the heels of a government shutdown and rumors that President Trump might fire Federal Reserve Chairman Jerome Powell, the Dow plummeted 653 points, followed with a Christmas Eve plummeting it even further. amid Trump’s continued criticism of the FED’s ‘hiking rates too fast.’
The market has been quite up-and-down ever since Trump took office in January, 2017.
Many warn of a potential bust, saying that markets can be unpredictable in times like these, and history seems to reflect that trend (of being unpredictable during times of unpredictability).
Then again, many have been warning of such a bust for some time, but only time will tell.
Until then (or not?), today, for one, is good day.