The Dow jumps more than 350 points amid expectations for a historic Cyber Monday

On Monday, the stocks jumped thereby staging a comeback. This is after the gains of the Wall Street in 2018 was wiped out in a series of sell-offs.

The investors had waded back into the market on the Cyber Monday which is the biggest shopping day considering the online mode.

The Dow Jones Industrial Average increased by 1.4 percent or by more than 350 points where the increase in the S&P was that of 1.5 percent and that too out of the correction territory.

Adding to the series of increase, the Nasdaq also witnessed an increase of 2 percent.

Source: hdnux

In the past few months, the three major indices of the United States had witnessed a sharp decline because of the increase in prices and the cooling demand. This in turn had raised concerns for the company as well as investors.

The Chief Investment Officer of the UBS, Mark Haefele stated that it is uncertain as to whether the volatility that existed in the past eight years will come back after the market bounce or will there be a deeper pull.

He further added that this will depend upon the incoming data along with the development of the political risk as well as central bank’s policy.

The SPDR S&P Retail ETF increased by 1.9 percent which relieved the retailers as they found some optimism because of the better performance of the indices of the United States due to Cyber Monday and Black Friday.

Source: eu-west-1.amazonaws

Cyber Monday and Black Friday were already expected to beat the previous records and thus result in historic sales numbers.

On the afternoon of Monday, Apple was briefly surpassed by Microsoft to become the world’s most valuable company.

However, the prices are still in the bear market and have witnessed a fall by more than a quarter in the past three months.

Source: BusinessInsider, MarketWatch

Leave a Reply

Your email address will not be published. Required fields are marked *

Written by Ketakee Srivastava

I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

Auto group says Tesla’s China sales plunge; company’s shares slide

Airbnb poaches Amazon exec as its new CFO as the $31 billion startup preps for IPO