Wall Street suffers worst Christmas Eve trading day on record

Wall Street suffers worst Christmas Eve trading day on record

Wall Street suffers worst Christmas Eve trading day on record

Social media exploded after Monday's crash.

In a sign some consumers are getting nervous about the economy amid volatile stock markets and the partial shutdown of the US government, the Conference Board's consumer confidence index dropped to a five-month low in December and came in weaker than even the lowest economists' estimate in a Reuters poll.

The market remains on track for its worst December since 1931, during the depths of the Depression, and could finish 2018 with its steepest losses in a decade.

The S&P 500 is up 41 points or 1.7 percent to 2,391 at midday.

Last chance to take advantage of our best offer of the year!

Each index's percentage gain was the best since 2009, the year the longest bull market on record began. The S&P 500 and the Nasdaq Composite each dropped 1.7%. Amazon climbed 4.2 percent to $1,400, while Macy's gained 3.3 percent to $29.08. The index of 500 large companies traded 1.3 percent higher at 2,381.

The unorthodox remarks come on top of the partial shutdown of the United States government, which shows no sign of ending anytime soon.

Peter Cardillo, chief market economist at Spartan Capital Securities in NY, told Reuters that he expected markets to continue to rally as investors looked for bargains.

On Thursday, some of the market's big winners the prior day lost ground. Advanced Micro Devices lost 6 percent to $16.83.

Wall Street suffers worst Christmas Eve trading day on record

The NASDAQ, however, which is already in bear territory - or down 20 percent off the year's high - failed to rally.

The Dow's 30 blue chips are close behind, down 4,034 points in December - about 13.63 percent - and almost 5,000 points off its September high.

He expects global stock markets to return 4.5 percent to 6.5 percent annually over the next 10 years, in dollar terms, versus the 12.6 percent they had provided annually since the market's bottom following the 2008 financial crisis. Energy companies fell along with the price of oil. Noble Energy slid 5.1 percent to $18.10.

The offshore yuan was little changed after China released new rules promising to treat all companies equally, the latest positive step on the trade and investment front since further US and Chinese tariff hikes were paused. Energy producers surged as crude oil powered past US$46 a barrel, an increase of nearly 10 per cent. The euro rose to $1.1397 from $1.1353. Futures for the broad S&P futures were down 1 per cent at 2,447.25.

Other U.S. indexes fell too.

NY stocks had hurtled higher in post-Christmas trade yesterday, following strong data and White House reassurances that Powell would remain in his post. The FTSE was down 1.6% and Germany's DAX fell 2.7%.

ASIA'S DAY: Japan's Nikkei 225 index rebounded 3.9 per cent to 20,077.62. The S&P 500 index soared about 5 percent.

A lack of news and light trading that traditionally accompany the holiday season also combined with cheaper prices due to a turbulent month of trading to encourage investors to buy more stocks.

Recommended News

  • Miley Cyrus and Liam Hemsworth marry in secret Christmas celebration

    The couple first met, started dating and got engaged after they starred together in the 2010 romantic drama The Last Song . He captioned the clip: "Special here comes the bride cyrus/hemsworth remix for 2019. congratulations u two xo".
    Opal Tower residents evacuated after concerns building may collapse

    Opal Tower residents evacuated after concerns building may collapse

    The website for the Opal Tower says the building has 392 apartments, commercial spaces, a childcare centre and community centre. He said a local exclusion zone remained in the area of Opal Tower but all roads and public transport had returned to normal.
    Steelers WR confirms he will play with fantasy owners in mind

    Steelers WR confirms he will play with fantasy owners in mind

    Ginn is the second such player for New Orleans, which also activated receiver Tommylee Lewis from IR a month ago. Cameron Jordan doesn't believe that Ben Roethlisberger is among the top five quarterbacks of his generation.
  • Border wall GoFundMe may need to issue refunds after millions raised

    Border wall GoFundMe may need to issue refunds after millions raised

    As of Wednesday night, the campaign had raised almost $2 million, with large and small donations pouring in almost every minute. It seems there is always a "budget battle" or some other compromise that relegates the border wall to the back burner.
    Christmas Eve Chilly And Cloudy

    Christmas Eve Chilly And Cloudy

    It will be a little cold for Santa tonight , with a low of 29 degrees with wind chills between 20 and 25. A mix of rain and snow will be found near the low track, with rain and some thunderstorms to the south.
    GST Council cuts rates on 23 items

    GST Council cuts rates on 23 items

    Services supplied by banks to Basic Savings Bank Deposit account holders under the Jan Dhan Yojana will not attract GST. Initially, when GST had just been imposed, on July 1, 2017, there were 226 goods in the 28 per cent slab.
  • Fit-again Jadeja available for 3rd Test vs Australia

    Fit-again Jadeja available for 3rd Test vs Australia

    Sarfraz Ahmed believes Yasir Shah could prove crucial in swinging the three-Test series with South Africa in Pakistan's favour. Since January 2013, there have been 41 occasions in which India's bowlers have taken 20 wickets in a Test.
    Four men charged with affray over incident on cargo ship in Thames

    Four men charged with affray over incident on cargo ship in Thames

    The men were confined to a cabin but escaped and, according to ship operator Grimaldi Lines, threatened the crew with iron bars. Maritime navigational tracking sites showed the vessel circling around a position north east of Margate in Kent.
    Turkey Boosts Military Presence In Syria As Erdogan, Trump Discuss US Pullout

    Turkey Boosts Military Presence In Syria As Erdogan, Trump Discuss US Pullout

    We discussed ISIS , our mutual involvement in Syria, & the slow & highly coordinated pullout of USA troops from the area. Trump justified the move with an early-morning tweet claiming that the USA defeated the Islamic State in Syria (ISIS).
  • Justice Ginsburg leaves hospital after cancer surgery

    Justice Ginsburg leaves hospital after cancer surgery

    Worries over Ginsburg's health have been a constant of sorts for almost 10 years and, for liberals, particularly in the last two. The projected date of Ginsburg's discharge from the hospital and her return to the court are unknown at this time.
    Houston Grocery Stores Open on Christmas Eve and Day

    Houston Grocery Stores Open on Christmas Eve and Day

    The Buffalo Wild Wings chain is not only open, but wants to give you the space to hold your own holiday party this Christmas . The CTrain will run every 15 minutes throughout the day and every 30 minutes after 10 p.m. until 12:30 a.m.

    "Phenomenal" - Crystal Palace fans salute star after outrageous win

    Pep Guardiola defends his decision to play John Stones ahead of Kevin de Bruyne in Manchester City's loss to Crystal Palace .

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.