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Biggest Day of Gains Ever for Our Stock Markets

posted by martyb on Thursday December 27 2018, @09:44AM   Printer-friendly
from the how-are-they-doing-over-the-entire-year? dept.

realDonaldTrump writes:

"The Dow rose more than 1,080 points, or nearly five percent, marking the first time in history the exchange rose more than 1,000 points in a single day of trading. The S&P 500 climbed more than 100 points, or about five percent, while the tech-heavy Nasdaq Composite rose more than 360 points, or nearly six percent.

All three major exchanges posted their largest single-day point increase on record." foxbusiness.com/markets/stock-futures-trade-cautiously-on-political-concerns

Our Country is doing very well. Because we are finally putting America First.

A report at Bloomberg offers a less rosy perspective:

Just one of the S&P 500 members fell on Wednesday, when the Dow Jones Industrial Average jumped more than 1,050 points for its biggest-ever point gain. Consumer shares paced the rally, with Amazon.com Inc. jumping 9.5 percent on record holiday sales. Each member of the FAANG[*] cohort rallied at least 6.4 percent. Nike and Apple rose more than 7 percent.

Yet it's still a horrible month for U.S. stocks, with the S&P 500 down almost 11 percent. Japan's Topix is even worse, with a 14 percent slide. Emerging markets have done better, thanks to expectations of less aggressive tightening by the Fed. The Shanghai Composite is off less than 4 percent, for example. And China's yuan, along with most major Asian currencies, is up against the dollar this month.

[*] FAANG: "FAANG is an acronym for the market's five most popular and best-performing tech stocks, namely Facebook, Apple, Amazon, Netflix and Alphabet's Google."

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  • (Score: 3, Informative) by DeathMonkey on Thursday December 27 2018, @04:20PM (5 children)

    by DeathMonkey (1380) on Thursday December 27 2018, @04:20PM (#779014) Journal

    Dow Jones [google.com]

    Seriously, look at the 1 year graph and tell me we're doing good. That cliff on the far right is what we just fell off.

    Then, compare that with the 5 year graph to see how well we were doing under Obama.

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  • (Score: 0) by Anonymous Coward on Thursday December 27 2018, @04:39PM (4 children)

    by Anonymous Coward on Thursday December 27 2018, @04:39PM (#779021)

    Then, compare that with the 5 year graph to see how well we were doing under Obama.

    Hmm, I wonder if there was something else going on 2008-2016...

    https://fred.stlouisfed.org/series/FEDFUNDS [stlouisfed.org]
    https://fred.stlouisfed.org/series/WALCL [stlouisfed.org]

    • (Score: 5, Informative) by DeathMonkey on Thursday December 27 2018, @04:42PM (3 children)

      by DeathMonkey (1380) on Thursday December 27 2018, @04:42PM (#779025) Journal

      Hmm, I wonder if there was something else going on 2008-2016...

      A competent President who was taking steps to actually improve the economy is what was going on.

      • (Score: 0, Redundant) by Anonymous Coward on Thursday December 27 2018, @04:44PM

        by Anonymous Coward on Thursday December 27 2018, @04:44PM (#779029)

        Ok, keep investing in netflix and friends then.

      • (Score: 2) by FatPhil on Thursday December 27 2018, @10:50PM (1 child)

        by FatPhil (863) <reversethis-{if.fdsa} {ta} {tnelyos-cp}> on Thursday December 27 2018, @10:50PM (#779148) Homepage
        Narp. the QEs were dousing petrol on the pile of tinder. Trump's the bumbling drunk with a lit cigarette coming this way.
        --
        Great minds discuss ideas; average minds discuss events; small minds discuss people; the smallest discuss themselves

        • (Score: 0) by Anonymous Coward on Friday December 28 2018, @02:28AM

          by Anonymous Coward on Friday December 28 2018, @02:28AM (#779201)

          Now there is a good metaphor.