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

CNBC ^ | 12/26/2018 | Fred Imbert

[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.

[MichaelCorleone]

-—Wednesday’s gain also marked the biggest upside move on a percentage basis since March 23, 2009, when it rose 5.8 percentage points.-—

Yes well, I guarantee you that was a direct result of a coordinated buying spree by the satanic left in order to make 0bama look good.

They all made sure the man-child didn’t have to do anything but play golf for eight years.

While the statement is true, there should be an asterisk by those numbers.

[caww]

Looks like some-’bodies’ out there are pushing buttons...as they did in 2008.

[SunkenCiv]

Most stock is held by institutional investors (mutual funds), and they probably weren't doing a lot of dumping during the market correction, but not a lot of buying either. Now it's year-end, and they'll probably be buying, if they are still gun shy, the rally will fade.

I've had a good laugh of late at the expense of the technical trading (they're contrarian in the sense that they buy high and sell low) with their meeaningless jargon about Death Crosses and such.

AAPL has been on the slide, in part for one good reason (it was bid up in a bubble that couldn't be sustained, peaking just a few months ago at $233 and change), and had slid to the high $140s -- but jumped up over $10 today. TSLA (which is still in a bubble) slid I think it was $24 Monday, and rose $30 today.

I'd be surprised if the stocks which pay a decent dividend (and can sustain it based on fundies) and have seen the effective yield climb a lot due to share price declines, don't make a nice climb from here.

[tcrlaf]

From another board:

““BREAKING: CNN Staffers Seen Protesting In Front of NY Stock Exchange!

Numerous CNN staff were seen protesting outside of the New York Stock Exchange tonight, Chanting, “Turn Those Machines Back On!!”, and demanding the names of all of those who bought stocks today, so that they can be outed and doxxed.

CNN President Jeff Zucker was seen on his knees, with tears streaming down his face and hands balled into fists of rage, shouting at the shy, “WE HAD HIM! We finally had the bastard Trump! How could GOD allow this to happen?

Jim Acosta, speaking in camera to a teary-eyed Wolf Blitzer, stated, “ Today’s stock Rally harms poor children and Democrats the most.”

Meanwhile, in Washington, Nancy Pelosi put out a statement saying that this is obviously the result of Obama Policies kicking in.

Staffers at MSNBC could not be reached for comment, but Black Sheets were seen hanging from windows at Rockefeller Center.”