Continuing a wild Christmas week on Wall Street, the Dow Jones Industrial Average roared back in late trading after a session of losses, finishing well in positive territory one day after a historic trading session.
The Dow on Thursday rose 256.19 points, or 1.12 per cent, to 23,134.64, the S&P 500 gained 20.45 points, or 0.83 per cent, to 2,488.15 and the Nasdaq Composite added 25.14 points, or 0.38 per cent, to 6,579.49.
It came a day after the Dow notched its biggest-ever point gain of 1,086 points, as the market endures a bout of volatility to end what has been a topsy-turvy year.
Thursday's reversal pulled the Dow back from a 611-point loss earlier in the day, extending gains from a day earlier, when the market had its best day in 10 years.
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Specialist Stephen Naughton works on the floor of the New York Stock Exchange on Thursday, as he market gave back much of the prior day's gains in morning trading
A five-day view of the Dow Jones shows the index as of 4pm on Thursday
Gains in materials stocks, banks and health care companies outweighed losses in retailers and other sectors.
Volatility has been the norm this month. The market remains on track for its worst December since 1931, during the depths of the Depression, and could finish 2018 with its biggest losses in a decade.
Even with Wednesday's big gains, the Dow, S&P 500 and Nasdaq are all down more than 11 percent for the month.
'The last two days are really demonstrable of what the market is struggling with,' said Tom Martin, senior portfolio manager of Globalt Investments.
'It's looking for a bottom. It's looking for a reason to gain a little more confidence. And it's also looking for opportunities to reposition and lessen risk.'
The partial government shutdown that began over the weekend has weighed on the market.
Investors have also been unnerved by the personnel turmoil inside the Trump administration, trade tensions with China, the slowing global economy and worries that corporate profits are going to slip sooner or later.
Bonds prices rose, sending the yield on the 10-year Treasury down to 2.76 percent from 2.79 percent late Wednesday.
Benchmark U.S. crude dropped 3.5 percent to settle at $44.61 a barrel in New York. Brent crude, used to price international oils, lost 4.2 percent to $52.16 a barrel in London.
The dollar fell to 110.74 yen from 111.36 yen on Wednesday. The euro strengthened to $1.1449 from $1.1351.
Gold edged up 0.6 percent to $1,281.10 an ounce and silver gained 1.2 percent to $15.31 an ounce. Copper fell 1.2 percent to $2.67 a pound.
Major indexes in Europe closed lower.
In European markets, where trading resumed after a Christmas holiday break, the German DAX slid 2.4 percent, while France's CAC 40 gave up 0.6 percent. Britain's FTSE 100 fell 1.5 percent.
In Asian markets, the Nikkei 225 index rebounded 3.9 percent, while South Korea's Kospi was little changed. The Hang Seng index fell 0.7 percent and Australia's S&P-ASX 200 jumped 1.9 percent. Stocks climbed in Taiwan and throughout Southeast Asia.
Link hienalouca.comhttps://hienalouca.com/2018/12/28/wall-street-whiplash-as-dow-jones-rebounds-in-late-trading-to-gain-250-points/
Main photo article Continuing a wild Christmas week on Wall Street, the Dow Jones Industrial Average roared back in late trading after a session of losses, finishing well in positive territory one day after a historic trading session.
The Dow on Thursday rose 256.19 points, or 1.12 per cent, to 23,134.64, the ...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
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