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12-26-2018, 11:24 AM #1
- Join Date
- Apr 2018
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Markets reopen after worst-ever Christmas Eve
The stock market is trying to rebound from a disastrous Christmas Eve, but a morning rally quickly ran out of steam. The Dow turned negative Wednesday after opening 150 points higher.
The S&P 500 is inches away from entering a bear market. If it closes just 7 points lower, it will end the longest bull market in history. But investors haven't given up on the bull market just yet. The S&P 500 rose 0.2% and Nasdaq was up about 0.7% Wednesday.
"Stocks have fallen too far out in front of the real economy," said Chris Rupkey, managing director of MUFG. "I suspect there may be less human being trades selling stocks here, than there are just mindless computer-driven trades following the latest trend."
The Nasdaq is already in a bear market. The Dow would need to close down more than 300 points for that index to be in a bear.
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