foxex: The Grinch stole Christmas, but then gave it back

Thursday, December 27, 2018

The Grinch stole Christmas, but then gave it back

The Market Sum | INVESTOPEDIA

Insight after the bell

By Caleb Silver, Editor in Chief

Dow
23,138.82 +1.14%

S&P
2,488.83 +0.86%

Nasdaq
6,579.49 +0.38%

VIX
29.96 -1.48%

INV Anxiety Index
104.71 High Anxiety

US 10-Yr Yield
2.743 -1.93%

The Grinch stole Christmas, but then gave it back

Wow - what a ride. After a historic surge dubbed the Santa Claus rally on Wednesday, with the Dow rising 1,000 points higher, a single-day point record, it looked as though the Grinch was going to steal Christmas. The Dow dropped 611 points, and the S&P and Nasdaq dropped as much as 2.8 and 3.3 percent, respectively. It seems, though, that the Grinch may have learned the true meaning of Christmas, then returning all he initially stole from investors, as the indices started surging at 2 o'clock, after hitting their day lows. All 3 major indices closed up from yesterday, between 0.4% and 1.1%.

The cause of the early day stock drop? See if you can guess. No yeah, it's the trade talks. It was reported earlier in the day that the White House was considering a new executive order to bar U.S. companies from using equipment from Chinese Huawei and ZTE. What spurred the surge? Hard to say, but CNBC quoted Benjamin Lau, the chief investment officer at Apriem Advisors saying, "this market is completely emotionally driven."

Turns out, we're Santa, and also the Grinch (both villain and hero). The metaphors are getting messy and mixed, but hey, it's the market, and these days, messy and mixed is what we've come to expect.

If this newsletter looks short to you, it's because it is. We are taking a few days during the holiday season to recharge our batteries and spend time with loved ones. We hope you are, too. We've collected a few stories for you to read below. We're wishing you a happy, healthy and safe holiday season.

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