Markets Right Now: US stocks open lower as sellers return

US stocks attempt rebound
HISTORIC DAY: Stocks Jump 1,084+ POINTS in Biggest 'Single-Day Gain' in US History
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29 December, 2018

Wednesday's gains provide the S&P 500 some breathing room after finishing the shortened trading session on Monday just shy of a bear market.

Energy stocks also rebounded as the price of US crude oil notched its biggest one-day gain in more than two years. He remained bullish on US companies and their prospects, insisting from the Oval Office on Tuesday: "They have record kinds of numbers".

The Shanghai Composite Index rose 0.5 percent to 2,495.16 points while Tokyo's Nikkei 225 lost 0.6 percent to 19,964.54.

Stocks bounced back following a disastrous month for Wall Street - the worst December for financial markets since the Great Depression, and one that saw the S&P 500 and Nasdaq dip into bear market territory. Traders and investors, cited by Reuters, said that technical market factors also contributed to the rally. The Nasdaq Composite traded 0.2 percent higher after dropping more than 3 percent. Eastern Time. The Dow slid 360 points, or 1.6 percent, to 22,517.

People walk on Wall Street in front of the New York Stock Exchange (NYSE) in New York February 6, 2018.

The heavy-weight FAANG group - Facebook Inc (FB.O), Amazon, Apple Inc (AAPL.O), Netflix Inc (NFLX.O) and Alphabet Inc (GOOGL.O), rose between 1 percent and 4 percent.

A drop in oil prices led to a 2.21% drop in the energy index, while technology and consumer discretionary stocks shed 1.54% and 1.77%, respectively. The boost came in the first day of trading since Monday's Christmas Eve dip of more than 600 points.

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As investors desperately hope for any good news - whether from the administration or the Federal Reserve - to stop the stocks from their free fall, there is still value in the market to profit from. Another day of heavy losses would have marked the end of longest bull market for stocks in modern history - a run of almost 10 years. Kohl's gained 10.3 percent to $65.92.

Even as some people on Main Street may have been heading out to the mall to burn off some of that holiday roast, consumer discretionary stocks were the biggest gainers on Wall Street. After the shortened trading had been completed on Christmas eve, with a considerable decline of nearly three per cent, showed the rate table is now at the Sounding of the closing bell, a substantial increase of 4.98% to 22 878,45 points.

Political turmoil this week has added to concerns about a cocktail of factors - including slowing growth, trade tensions, and more expensive refinancing after years of stimulus - that have weighed on global markets in recent months.

Mnuchin on Monday held a call with USA regulators to discuss plunging US stock markets. The Nasdaq added 12 points to 6,591.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.79 per cent from 2.75 per cent late on Monday.

CURRENCY: The dollar declined to 110.58 yen from Thursday's 111.01 yen. It fell $1.97 the previous session to $52.73. The euro advanced to $1.1456 from $1.1430.

Gold edged up 0.1 percent to $1,273 an ounce and silver gained 2 percent to $15.12 an ounce. The Nasdaq is already in bear market, along with the Dow Jones Transport Average.DJT and small-cap Russell 2000 index.


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