Main US indexes log biggest day-after-Christmas gains ever

December 27, 2018

By IFCMarkets

US stock indexes recover from Christmas Eve losses

US stock market rebounded on Wednesday from sharp Christmas Eve rout. The S&P 500 gained 5% to 2467.70. The Dow Jones industrial average rose 5% to 22878.45. Nasdaq composite index rallied 5.8% to 6554.36. The dollar weakening reversed despite data showed Case-Shiller 20-city price index gain declined to 5% over-year in October from a revised 5.2% in September. The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, rose 0.5% to 96.99 but is lower currently. Stock index futures indicate higher openings today.

SP500 jumps 12/27/2018 Market Overview IFC Markets chart

European indices poised to reopen higher

European stock marlets were closed yesterday for Christmas holidays and will reopen today. Both GBP/USD and EUR/USD gave back previous session gains but are higher currently. The Stoxx Europe 600 closed 0.4% lower Monday. German markets were closed on Christmas eve, France’s CAC 40 fell 1.5% and UK’s FTSE 100 slid 0.5% to 6685.99. Futures indicate higher openings today.

Nikkei leads Asian indices gains

Asian stock indices are mixed today after overnight rally on Wall Street. Nikkei jumped 3.9% to 20077.62 despite yen turning higher against the dollar. China’s stocks are falling as data showed industrial profits fell in November for the first time in almost three years. The Shanghai Composite Index is down 0.6% and Hong Kong’s Hang Seng Index is 0.5% lower. Australia’s All Ordinaries Index gained 1.8% after reopening despite the Australian dollar’s resumed slide against the greenback.

Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.

Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter

Brent lower

Brent futures prices are edging lower today. Prices ended sharply higher yesterday: February Brent crude rallied 7.9% to $54.47 a barrel on Wednesday.

Market Analysis provided by IFCMarkets

This overview has an informative and tutorial character and is published for free. All the data, included in the overview, are received from public sources, recognized as more or less reliable. Moreover, there is no guarantee that the indicated information is full and precise. Overviews are not updated. The whole information in each overview, including opinion, indicators, charts and anything else, is provided only for familiarization purposes and is not financial advice or а recommendation. The whole text and its any part, as well as the charts cannot be considered as an offer to make a deal with any asset. IFC Markets and its employees under any circumstances are not liable for any action taken by someone else during or after reading the overview.