Dashing Hopes of The Resistance, Dow Surges to Record One Day Gain
Despite Doom and Gloom Predictions
The Dow Industrial Average made history Wednesday with it’s largest single-day point gain in history. Surging 1,086 points, the Dow surged past Christmas Eve loses.
More from the Wall Street Journal:
The Dow Jones Industrial Average surged more than 1,000 points for the first time in a single session Wednesday, rebounding after a bruising four-session selloff put the blue-chip index and the S&P 500 on the brink of a bear market.
All 30 stocks in the Dow industrials notched gains, as did each of the 11 sectors in the broader S&P. Shares of Amazon.com, Facebook and Netflix climbed more than 8%, while retailers rallied as early data on the crucial holiday shopping season appeared robust. And a nearly 9% rise in oil prices offered a respite for shares of beaten-down energy companies.
Worries about the Federal Reserve’s path of interest-rate increases, trade tensions with China and slumping oil prices have spooked investors for much of the fourth quarter, putting all three major U.S. indexes on track for annual declines for the first time since 2008. The blue chips lost more than 1,800 points, or nearly 8%, in the four trading sessions entering Wednesday.
“Hopefully the relief in the markets holds this week,” said Eric Wiegand, portfolio manager at U.S. Bank Private Wealth Management, referring to brief relief rallies in stocks over the past month that faded. “A lot of Washington-centric worries are still present.”
The blue-chip index climbed 1,086 points, or 5%, to 22878, its largest one-day percentage gain since March 2009. The S&P 500 added 5%, led by the consumer-discretionary and technology groups that powered the index higher for much of the year. The tech-heavy Nasdaq Composite rose 5.8%.
The bounce back left a market doom, gloom, and looming crash narrative dead and bloodied.
From USA Today:
And also from USA Today:
From Market Watch:
From ABC, the worst plunge since the Great Depression!
And well, you get the picture.
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Man… Powell is gonna be soooo mad
People have to understand that the NYSE is entirely controlled by the Wall Street Establishment. And, the financial establishment can cause the market to rise and fall to any extent that they want.
There was NO reason for the huge market drop of the last two weeks. Interest rates are still quite low and the Fed said that there would be no further interest rates in the near future. Oil prices are down significantly. The economic growth rate is still above 3%. Holiday retail sales are up over 5%. The manufacturing sector is still growing [the only retrenchment is in passenger car manufacturing among US auto manufacturers]. So, the question then becomes; what caused this drop in stock value? The answer is that it is a manufactured drop in stock prices. All you have to do is determine WHO manufactured it.
Now, we will see stock prices increase over the couple of weeks as the financiers, who started this fall, reinvest their profits from early sales in now significantly lower priced stocks.
I also wondered why the markets were going down so fast.
Just yesterday driving back home from Ohio, I saw gas prices at $1.85 in a few spots in Ohio along I 75.
That alone has to have a huge sway on consumer spending as energy costs become less important to budgets overall. When one can fill a car for $30 rather than $60 the extra cash is a windfall for the middle class.
How much of this was due to individual investors and how much was due to the Plunge Protection Team buying stocks?
Check this out at zerohedge:
Many people, including myself, predicted the Market would melt down if Democrats won the midterms. Stocks began to decline in late October when the Investors saw the Democrats making a run. The real crash began in November when Democrats retook the House.
We predicted a decline. We just did not realize the Fed would get involved and make things worse by raising interest rates too fast.
Just more PROOF that the demonCraps are continuing to Destroy OUR Nation. So why do people still vote to put them in office ??? It shows how much they are MindLess Sheep being led to Slaughter !!!