Stock Market Gains Over 1000 Points In Biggest Single-Day Gain in History

Recovering a bit from some pre-Christmas losses.

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.

Consumer confidence seems to be high as well. Shoppers spent the most on holiday shopping in six years, also known as Recovery Winter IV.

Retail sales in the U.S. from Nov. 1 through Christmas Eve were up 5.1 percent to more than $850 billion, according to Mastercard SpendingPulse.

That makes this the best holiday shopping season in six years, Mastercard said.

The surge in spending comes amid the latest fluctuations in the stock market, worries on Wall Street about a potentially slowing economy and a partial government shutdown.

Ah yes, the government shutdown. It's like the Trail of Tears with less smallpox. What a tragedy.

Shep Smith loves three things: Car chases, eye makeup, and stock market losses under Republican presidents. It's a shame he had the day off and wasn't forced to report on the huge GAINZZZZZ.

posted by Ace of Spades at 06:46 PM

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