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Stocks open higher after Christmas Eve rout, buoyed by Amazon’s record holiday sales

Stocks largely opened higher in Wednesday trading, two days after the Standard & Poor’s 500 teetered on the brink of bear territory.

Still, market watchers remain nervous, with the Dow Jones Industrial average close to its worst December since 1931.

The Dow rose 189 points, or 0.87 percent, to 21,982 in early morning trading. The S&P 500 was up 29 points, or 1.23 percent, to 2,380.

The Nasdaq increased 107 points, or 1.73 percent, to 6,300 on Wednesday. The tech-heavy index – which fell into a bear market on Friday – was buoyed by Amazon’s announcement Wednesday that the retailer experienced a record-breaking holiday season with “more items ordered worldwide than ever before,” according to a company press release.

Amazon stock jumped 3.51 percent to $1,390.84.

Only the Russell 2000 – an index of small-company stocks also in a bear market – fell in early trading. It was down 25 points, or 1.95 percent, to 1,267.

A bear market is when an index falls 20 percent or more from its most recent closing high.

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On Monday, stocks tumbled after President Trump doubled down on his criticisms of the Federal Reserve and after attempts by the U.S. Treasury Secretary Steve Mnuchin to reassure markets unsettled investors instead.

The stock market was closed on Tuesday for Christmas Day. It closes again on New Year’s Day.

This article originally appeared on USA TODAY: Stocks open higher after Christmas Eve rout, buoyed by Amazon’s record holiday sales


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