After a few months of discouraging market movements downward this week brought a historic day in the market! A late Christmas present arrived on Thursday bringing the largest one day gain in history. We’ve explained about Santa Clause Rallies before and what they are.
The Dow Jones gained 5 percent or 1,086 points to 22,878
The benchmark S&P 500 gained 5 percent or 116 points to 2,467
Nasdaq rose 5.8 percent or 361 points to 6,554.
During these volatile periods it’s important to stay invested unless you need to make a change to your overall plan to feel less anxious. View the following chart to see how if you missed some of the best trading days where the market was positive it would have made a really large difference in the outcome of your portfolio performance!
We will be watching to see if this rally continues to hold and we keep a majority of the gains from this week. We will be looking to corporate earnings for some guidance into the health of companies after this holiday season. This could bring a helpful lift to the market as well. One of the stories that helped to bring the historic gain was Amazon claiming they beat company records during the holiday season.
As always be sure your plan is in place and make changes as needed.
Wondering how this affects your investments? Schedule a call with Michelle and Steve to discuss your portfolio today.
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Stocks are officially in a bear market. What does that mean and more importantly, when will markets bottom? Our topic this week is the anatomy of a bear market, specifically looking at how and why markets bottom. We're reminded that there's a price for everything, which puts a floor under the value of many stocks.
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