{"id":29580,"date":"2018-12-27T05:40:04","date_gmt":"2018-12-27T09:40:04","guid":{"rendered":"https:\/\/cosmicconvergence.org\/?p=29580"},"modified":"2018-12-27T05:40:04","modified_gmt":"2018-12-27T09:40:04","slug":"stock-market-gyrations-reveal-never-ending-manipulation-of-price-and-demand","status":"publish","type":"post","link":"https:\/\/cosmicconvergence.org\/?p=29580","title":{"rendered":"Stock Market Gyrations Reveal Never-ending Manipulation of Price and Demand"},"content":{"rendered":"<h1>Dow rallies 1,000 points, logging its biggest single-day point gain ever<\/h1>\n<p><!--more--><iframe loading=\"lazy\" src=\"https:\/\/player.cnbc.com\/p\/gZWlPC\/cnbc_global?playertype=synd&amp;byGuid=7000057147&amp;size=530_298\" width=\"530\" height=\"298\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/video\/2018\/12\/26\/dow-posts-largest-daily-point-gain-in-history.html?__source=cnbcembedplayer\">Dow posts largest daily point gain in history<\/a> from <a href=\"\/\/www.cnbc.com\/?__source=cnbcembedplayer\">CNBC<\/a>.<\/p>\n<p>Fred Imbert | Eustance Huang<br \/>\nCNBC<\/p>\n<p>Stocks posted their best day in nearly a decade on Wednesday, with the\u00a0<a class=\"inline_quotes\" href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=.DJI\" data-gdsid=\"599362\" data-inline-quote-symbol=\".DJI\">Dow Jones Industrial Average<\/a>\u00a0notching 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.<\/p>\n<p>The 30-stock Dow closed 1,086.25 points higher, or 4.98 percent, at 22,878.45. Wednesday&#8217;s gain also marked the biggest upside move on a percentage basis since March 23, 2009, when it rose 5.8 percentage points.<\/p>\n<p>The\u00a0<a class=\"inline_quotes\" href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=.SPX\" data-gdsid=\"593933\" data-inline-quote-symbol=\".SPX\">S&amp;P 500<\/a>\u00a0also catapulted 4.96 percent \u2014 its best day since March 2009 \u2014 to 2,467.70 as the consumer discretionary, energy and tech sectors all climbed more than 6 percent. The\u00a0<a class=\"inline_quotes\" href=\"https:\/\/www.cnbc.com\/quotes\/?symbol=.IXIC\" data-gdsid=\"579435\" data-inline-quote-symbol=\".IXIC\">Nasdaq Composite<\/a>\u00a0also had its best day since March 23, 2009, surging 5.84 percent to 6,554.36.<\/p>\n<p>Wednesday also marked the biggest post-Christmas rally for U.S. stocks ever.<\/p>\n<p>Retailers were among the best performers on Wednesday, with the SPDR S&amp;P Retail ETF (XRT) jumping 4.7 percent. Shares of Wayfair, Kohl&#8217;s and Dollar General all rose more than 7 percent. Data released by Mastercard SpendingPulse showed retailers were having\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/12\/26\/retail-is-having-its-best-holiday-season-in-6-years.html\">their best holiday season in six years<\/a>. Amazon&#8217;s stock also jumped 9.45 percent, snapping a four-day losing streak, after the company said it\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/12\/26\/amazon-claims-a-record-breaking-holiday-season-by-items-sold.html\">sold a record number of items<\/a>\u00a0this holiday season.<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/player.cnbc.com\/p\/gZWlPC\/cnbc_global?playertype=synd&#038;byGuid=7000057131&#038;size=530_298\" width=\"530\" height=\"298\" type=\"application\/x-shockwave-flash\" allowFullScreen=\"true\" bgcolor=\"#131313\"><\/iframe><\/p>\n<p><a href=\"https:\/\/www.cnbc.com\/video\/2018\/12\/26\/the-market-closed-down-653-points-on-christmas-eve-heres-whats-next.html?__source=cnbcembedplayer\">The market closed down 653 points on Christmas Eve\u2014here&#8217;s what&#8217;s next<\/a> from <a href=\"\/\/www.cnbc.com\/?__source=cnbcembedplayer\">CNBC<\/a>.<\/p>\n<p>Energy stocks also jumped as\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/12\/26\/oil-markets-global-economy-in-focus.html\">U.S. crude oil prices catapulted more than 8 percent<\/a>. Shares of Marathon Oil and Hess were the best performers within the energy sector, jumping 11.9 percent and 11 percent, respectively.<\/p>\n<div class=\"group-container \">\n<div class=\"group\">\n<p>John Augustine, chief investment officer at Huntington Private Bank, said he welcomed Wednesday&#8217;s rally but added: &#8220;We still have a ways to go. We need to have three days of moving higher into the close to stem this wave of selling.&#8221;<\/p>\n<p>A strong sell-off on Monday sent the major indexes down more than 2 percent and ended with the S&amp;P 500 falling into a bear market. Monday&#8217;s pullback was also the worst Christmas Eve decline ever. The S&amp;P 500 was down 20.06 percent from an intraday record high set on Sept. 21 before Wednesday&#8217;s sharp rebound. U.S. exchanges were closed Tuesday for the Christmas holiday.<\/p>\n<p>The recent decline in stocks &#8220;is a buyer&#8217;s strike due to lack of confidence in policymakers around the world,&#8221; said Augustine. &#8220;It&#8217;s going to take a long time to recover that confidence.&#8221;<\/p>\n<p>The plunge in stocks on Monday came after Treasury Secretary Steven Mnuchin held calls with\u00a0<a href=\"https:\/\/www.cnbc.com\/2018\/12\/23\/treasury-secretary-mnuchin-held-calls-with-the-ceos-of-major-banks-to-discuss-the-market-turmoil.html\">CEOs of major U.S. banks last weekend<\/a>\u00a0and issued a statement saying, &#8220;The banks all confirmed ample liquidity is available for lending to consumer and business markets.&#8221;<\/p>\n<p>Monday&#8217;s move lower also came after President\u00a0<a href=\"https:\/\/www.cnbc.com\/donald-trump\/\">Donald Trump<\/a>commented on the Federal Reserve once more, calling it &#8220;the only problem our economy has&#8221; in a tweet. Trump also said Tuesday the Fed was &#8220;<a href=\"https:\/\/www.cnbc.com\/2018\/12\/25\/trump-lashes-out-at-fed-again-theyre-raising-interest-rates-too-fast.html\">raising interest rates too fast because they think the economy is so good<\/a>.&#8221; Trump has been critical of the Fed&#8217;s decisions regarding monetary policy this year. The central bank has hiked overnight rates four times this year.<\/p>\n<p>&#8220;With the end of the quarter, we could get a bounce in the next few days,&#8221; said Peter Cardillo, chief market economist at Spartan Capital Securities. But &#8220;the problem is [President Donald] Trump continues to create a lot of uncertainty. We can&#8217;t focus on the fact there are a lot of good bargains out there.&#8221;<\/p>\n<p>This is all taking place amid an ongoing government shutdown that started last week. The Trump administration and congressional leaders are at a stalemate over funding for a wall along the U.S.-Mexico border. The administration says the wall is important for national security while opponents of the barrier note it will not solve the U.S.&#8217; immigration issues.<\/p>\n<p>&#8220;Government shutdown starts with no end game strategy by either side,&#8221; L. Thomas Block, Washington policy strategist at Fundstrat Global Advisors, said in a note to clients. &#8220;The President &#8230; remains convinced that fighting for HIS wall is worth a government shutdown and his base loves the confrontation.&#8221;<\/p>\n<p><em>\u2014CNBC&#8217;s Robert Hum, John Melloy and Michael Sheetz contributed to this report.<\/em><\/p>\n<p>___<br \/>\n<a href=\"https:\/\/www.cnbc.com\/2018\/12\/26\/us-futures-following-christmas-eve-plunge.html\">https:\/\/www.cnbc.com\/2018\/12\/26\/us-futures-following-christmas-eve-plunge.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dow rallies 1,000 points, logging its biggest single-day point gain ever<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-29580","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=\/wp\/v2\/posts\/29580","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29580"}],"version-history":[{"count":0,"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=\/wp\/v2\/posts\/29580\/revisions"}],"wp:attachment":[{"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29580"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29580"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cosmicconvergence.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29580"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}