Many liberals gloated when the stock market faltered slightly just before Christmas. But they celebrated too soon, as the market came roaring back in just a day. One of the biggest days in history, in fact.
Dow rallies 1,000 points, logging its biggest single-day point gain ever
Stocks posted their best day in nearly a decade on Wednesday, with the Dow Jones Industrial Average notching its largest one-day point gain in history. Rallies in retail and energy shares led the gains, as Wall Street recovered the steep losses suffered in the previous session.
The 30-stock Dow closed 1,086.25 points higher, or 4.98 percent, at 22,878.45. 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 — to 2,467.70 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 to 6,554.36.
Wednesday also marked the biggest post-Christmas rally for U.S. stocks ever.
Retailers were among the best performers on Wednesday, with the SPDR S&P Retail ETF (XRT) jumping 4.7 percent. Shares of Wayfair, Kohl’s and Dollar General all rose more than 7 percent. Data released by Mastercard SpendingPulse showed retailers were having their best holiday season in six years.
Trump has been fantastic for the economy. It’s one of the main reasons the media doesn’t like to discuss the topic.