Wall Street notches best day in 10 years in holiday rebound

Wall Street notches best day in 10 years in holiday rebound

Wall Street notches best day in 10 years in holiday rebound

"Markets are becoming more rattled by criticism of the Fed", said Kristina Hooper, Invesco chief global market strategist. Like the Nasdaq, the S&P remains close to bear market territory, signaling the possible end of the longest bull market in USA history. The Dow Jones has experienced a fall of about thousands points from its high which was almost at 27,000 points.

Continuing a wild Christmas week on Wall Street, the Dow Jones Industrial Average has slumped in morning trading, giving back much of the gains it made in a historic trading session a day earlier. Leveraged trading is high risk and not suitable for all.

USA stocks fell broadly on Thursday, giving back a chunk of the previous day's big rally, as fresh concerns arose about the us economy with a measure of consumer confidence dropping by the most in more than three years.

Stocks are looking to stop one of the most miserable Decembers on record, as a host of headwinds combined to drag down America's benchmark indexes. The yield on the 10-year Treasury note held steady at 2.75 percent.

A quick glance at the titles of the 2019 outlook reports for various investment houses shows the increased caution. "A lot of sentiment indicators hit new lows - you have a lot of pent-up desire to buy back into a market you've been forced out of".

Santa was nowhere to be found on Wall Street this Christmas Eve. Wall Street traditionally considers a drop of 20 percent or more from recent highs to be a bear market.

But investors anxieties were far from gone. For most of the last decade, markets powered higher in a largely smooth and gradual way.

The market recovered some losses by early afternoon.

But this year has been different.

Both the Dow and the S&P 500 are now in the red for 2018 by at least 9 percent.

However, because there were no prior concerns about the banks, investors panicked.

Of course, no forecast is ideal.

The turmoil in Washington is making traders in other countries fret about the stewardship of the world's biggest economy.

Separately, Reuters reported Trump is considering an executive order in the new year that would bar usa companies from using telecommunications equipment made by China's Huawei Technologies and ZTE.

On Monday, the Dow had tanked 653 points after Treasury Secretary Steven Mnuchin had posted a puzzling tweet late Sunday that sought to quell fears about bank liquidity, but instead raised questions about his judgement.

Stocks were also pressured Thursday by a pullback in the monthly consumer confidence tracker. Inflation is tame. Pay growth has picked up.

Gold has also been soaring and was set for its biggest monthly increase in nearly two years, with many investors seeking havens amid intensifying global economic woes. Longer term it has been a different story. Eastern Time. The Dow slid 360 points, or 1.6 percent, to 22,517. Marathon Petroleum rose 4.8 percent to $56.93.

Treasury Secretary Steven Mnuchin held calls on Sunday with the heads of the six largest USA banks in order to reassure nervous investors that the financial markets and economy were functioning properly.

Technology stocks rebounded, with the Nasdaq Composite surging about 3%.

THANKS, SANTA: Big retailers were among the gainers.

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