Dow Surges 1000+ Points, Largest Single-Day Gain Ever

US stocks attempt rebound

Dow closes up more than 1,000 points in best day for Wall Street in 10 years as stocks rally back from Christmas Eve beating.

USA stocks posted their worst Christmas Eve session ever on Monday, as a ideal storm of concerns drove investors to bail out of a market that was already badly bruised. On Wednesday, the latest S&P CoreLogic Case-Shiller 20-city composite home price index showed a year-over-year gain of 5%, which was in line with expectations and down from the prior month's annual rate of 5.2%. The gains were enough to keep the S&P from tumbling into a bear market, defined as a 20 percent drop from its recent high.

USA stocks staged a furious rally a day after dropping to the brink of a bear market. The sector rose more than 6%, led by Kohl's Corporation (NYSE: KSS) and Amazon.com, Inc.

Until Wednesday, the holiday season had been a big disappointment for investors and traders, with most of the losses coming in the previous four trading days.

The market had been down most of the day as the selling that has gripped Wall Street for most of December resumed.

The Dow finished Monday 18.9 percent lower than its closing high.

The Dow Jones was up 1,086.25 points, or 4.98 percent, at the end of trading, while the S&P 500 rose 4.96 percent and the Nasdaq Composite increased 0.40 percent. Markets in Ireland, Britain, Germany and France were closed on.

Stocks rose higher despite virtually no news - which may have been a catalyst in its own right. Investors have also been unnerved by the personnel turmoil inside the Trump administration, trade tensions with China, the slowing global economy and worries that corporate profits are going to slip sooner or later.

Trump accidentally reveals location and identities of US Navy Seals in Iraq
Trump left behind a slate of troubles in Washington, including a partial government shutdown and an unsteady economy. For the visit, which was unscheduled, Melania broke first lady precedent by travelling to an active combat zone.

ENERGY: Benchmark U.S. crude jumped $1.02 to $45.63 per barrel in electronic trading on the New York Mercantile Exchange. The S&P was up four percent Wednesday while the Nasdaq rose 4.8 percent. In percentage terms, that's a gain of almost 5 percent.

The Federal Reserve's decision to boost interest rates, concerns about slower global growth, and a partial USA government shutdown have caused unease among investors, leading to a sharp drop in us stock prices. The S&P 500 has averaged a 10.8% rise over the six months following such a washout, with only the minus 2525 reading in October 2008 resulting in a loss, though of only 5.9%.

The Russell 2000 is up 39.73 points, or 3.1 percent. Energy companies fell along with the price of oil.

Bank stocks fell along with Treasury yields.

In Europe, the benchmark Euro Stoxx 50 lost 1.1%.

Petroleum-linked shares also had a good session, with Chevron winning 6.3 per cent and Halliburton 5.1 per cent following the rally in oil prices.

Markets have been marked by turbulence in recent weeks as the US government shutdown, higher USA interest rates and the U.S.

Gold edged up 0.1 percent to $1,273 an ounce and silver gained 2 percent to $15.12 an ounce.

Related:

Comments

Latest news

A dream year for Bumrah and India's quicks
Since the start of the South Africa tour, Australia have averaged 233 with the bat and have scored in excess of 350 only twice. Usman Khawaja (21) fell to this ploy, caught at short leg, as Australia slipped further to 53 for 3 in the 20th over.

Sears to close Fairview Heights location
He said his plan would retain the jobs of 50,000 of the 68,000 workers employed by Sears at the time of the bankruptcy filing . Columbia Center's movie theater also recently closed but is being replaced by a Dick's Sporting Goods, now under construction.

Trump threatens to 'entirely' close US-Mexico border unless wall demands met
Closing the border down until the American people get the security they voted for would be a logical next step. On Thursday, the Senate was in session for only four minutes after lawmakers didn't show up.

Russian Federation coordinates with Turkey its actions in Syria
In his interaction with reporters, Trump described how he gave "the generals" multiple six-month "extensions" to get out of Syria. Ankara's ties with its Western allies in North Atlantic Treaty Organisation have been strained over a range of issues.

Winter storm warnings begin Wednesday across much of state
With the month almost over, just three days had temperatures below normal and even then the overnight low did not drop below zero. As of right now, it looks like we'll start off the new year with some of the coldest temperatures of the winter season thus far.

Putin oversees test of new hypersonic super rocket
The Kremlin said it successfully hit a practice target on the Kura shooting range on Kamchatka, 6000 kilometres away. Putin said in March that the Avangard has intercontinental ranges and can fly at 20 times the speed of sound.

Dow Jones soars 1,086 points in largest single-day increase
This therefore means that NASDAQ is down by more than 20 percent from the value of 29 of august when it had recorded its high . Many investors are growing anxious that corporate profits - which drive stock market gains - are poised to weaken.

Tsunami toll now 429 dead, thousands homeless
Indonesia's meteorology agency said late on December 25 the rough weather around the volcano could make its crater more fragile. An eruption at the Anak Krakatau volcano between the islands of Java and Sumatra is still spewing columns of ash into the air.

Iraqi politicians criticize Trump visit as blow to nation's sovereignty
He defended his decision to withdraw from Syria, saying "The United States can not continue to be the policeman of the world". During the call, Trump invited Abdel Mahdi to visit Washington and he accepted, White House spokeswoman Sarah Sanders said.

Leicester beat City to pull off second shock
Jürgen Klopp struck a similar note, noting his team's six-point lead over Spurs could be whittled down quickly. But we are not thinking about if we are able to overtake Liverpool or whatever, that is not the issue.

Oil prices rebound after Christmas Eve sell-off
WTI prices fell from $52.58 per barrel on December 13 to $42.53 per barrel earlier this week ahead of the Christmas holiday. USA crude was up 10 per cent to US$46.80 a barrel, while Brent rose 9.2 per cent to US$55.11 a barrel.

Qatar strongly condemns attack on Libyan foreign ministry
Two assailants detonated their suicide vests inside the ministry and the third was killed by ministry guards, Reuters reported. The three attackers were suspected to be Islamic State militants, the security source, who requested not to be named, said.

Ahead of his 69th birthday, Sharif sent to 7 years in jail
Accountability Court Judge Arshad Malik announced the verdict in a short order, after reserving the decision last week. The accountability court had indicted Sharif for holding assets beyond his known sources of income in August 2017.

Paul Pogba: Manchester United midfielder is happy now - Ole Gunnar Solskjaer
In the first half we came under tremendous pressure but they play with freedom and they still have world-class players. Now speaking before their game vs Huddersfield, Solksjaer has revealed how he intends to use his attacking players.

Jadeja fully fit while playing Ranji Trophy, says Saurashtra coach Sitanshu Kotak
The same article also cast doubt over the contradictory explanations for not playing a spinner being spouted by Kohli and Shastri. That enabled the left-arm spinner to represent Saurashtra in the Ranji Trophy match from November 12-15. "Third time lucky.

Other news