Following a spectacular increase this week after the bourses reopened after the holiday season, the Dow Jones Industrial Average scored its greatest single day gain this year by soaring above 1086 points in a single trading session. Despite the fact that the Dow gained 5 points, the S&P 500 gained a similar amount (5 percent), and the Nasdaq emerged out of the bear market by reporting a gain of 5.8 percent. This was the first time since March 2009 that all three indices climbed by a significant margin on the same day. Stocks increased quickly, which could have served as a stimulus for the losses suffered prior to Christmas. President Trump had been so concerned about the dramatic decline in stock prices that he was considering dismissing Chairman of the Federal Reserve Jerome Powell as a result of it.
According to the data available, all of the stocks on the list climbed strongly, with the exception of Newmont Mining Corp, which dipped by 0.1 percent, despite the fact that it was the greatest gainer on the S&P 500 at the start of the week due to the surge in gold prices. Apple, which gained 7 percent, Amazon, which gained 9.5 percent, and Alphabet, which gained 6 percent, were among the tech stocks that had significant gains. Netflix and Facebook, which both gained 8 percent, also saw significant gains. Companies in the energy sector, such as Marathon Oil and Hess, saw large increases of 11 percent.
In addition, stocks of retail chains and retail brands such as Kohl’s and Nike have risen sharply, prompting Mastercard to announce that this holiday season’s sales were the greatest in the prior six years. A rise in earnings across the country, combined with a decline in gas costs, has contributed to the increase in consumer expenditure, which has also contributed to the increase in GDP in the United States. Ford Automobile also posted moderate advances, as did the stock of department store giant JCPenney, which had recently fallen below $1. Experts, on the other hand, believe that this rise may not be sustainable for long because it is based on uncertainty, and even a tiny whiff of bad news can send the market down once more in a hurry.
