The DOW had its highest point gain in history Monday when it climbed 1,294 points.
US stocks rebounded sharply on Monday, with the Dow logging its biggest point gain in history.
Stocks are coming off their worst week since the 2008 financial crisis. The Dow (INDU) last week dropped 12.4%, while the S&P 500 (SPX) plunged 11.5%.
The Dow also recorded its worst one-day point drop in history on Thursday.
“If [the market is] priced to perfection and then something indicates that the perfection is a pipe dream, prices will come off,” said Brad Cornell, emeritus professor of finance at
UCLA, of last week’s selloff. Prices are much more reasonable now, he added.
But Monday’s rebound was strong. After a sharply higher open and some flipping between gains and losses mid-morning, stocks moved solidly higher.
The Dow finished up 1,294 points, or 5.1%, making it its best one-day point gain on record. On a percentage basis, Monday was its best day since March 2009.
The S&P climbed 4.6%, its best performance since December 2018.
The rise in both indexes snapped a seven-day losing streak.
The Nasdaq Composite (COMP) closed up 4.5%.
All three indexes are now less than 10% from their highs. They entered a correction last week, which is defined as a 10% decline from the most recent highs.
This is another example of the strength of Trump’s economy. It has slight dips but these dips are healthy. These dips are simply corrections that lead to a new stock market high.
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