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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: 5, Funny) by Azuma Hazuki on Thursday December 27 2018, @09:23PM (3 children)

    by Azuma Hazuki (5086) on Thursday December 27 2018, @09:23PM (#779123) Journal

    Begun, the Trade Wars have. Easy to win, they are not. Fucked, we are.

    --
    I am "that girl" your mother warned you about...
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  • (Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:26PM (2 children)

    by Anonymous Coward on Thursday December 27 2018, @10:26PM (#779137)

    The trade war has been going on for a long time, the only the that changed is Trump brought it to your attention:

    The Shanghai-based Shanghai Media Group (SMG) publication, China Business News (Diyi Caijing)(02/08)(pg A1): "The United States provoked a trade war again by imposing high anti-dumping duties on Chinese-made gift boxes and packaging ribbon. This once again shows that 2010 is off to a difficult start for Sino-U.S. relations.

    http://www.gata.org/files/USEmbassyBeijingCable-02-08-2010.txt [gata.org]

    Get off that fake news...

    • (Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:30PM (1 child)

      by Anonymous Coward on Thursday December 27 2018, @10:30PM (#779141)

      Those are more disputes, the skirmishes leading up to the Big Aggression.

      • (Score: 0) by Anonymous Coward on Thursday December 27 2018, @10:59PM

        by Anonymous Coward on Thursday December 27 2018, @10:59PM (#779151)

        It is the ongoing trade war that people have been talking about for decades. The only new thing is Trump is forcing the fake news to talk about it.