Will Wall Street’s record-breaking rally continue?
The day before the Christmas break, the DJ30 recorded its largest single-day point gain in history, skyrocketing 1,000 points to end the day almost 5% higher. The SPX500 also climbed 5% and the NSDQ100 closed nearly 6% higher. For all three indices, it was the largest percentage gain in more than 9 years. A massive recovery was seen in tech, as Amazon closed more than 9% higher, Facebook climbed more than 8% and Apple rose 7%. The automotive sector was also seen higher, as Tesla leaped 10% and GM rose more than 3%. However, US futures now point to a slight decline when markets open today.
Today’s highlights: Global markets mostly higher
- Cryptocurrencies show correction: After rallying earlier this week, the cryptocurrency market reverted back to losses, as all top 10 cryptos were seen lower over the past 24 hours. At the time of writing, Bitcoin was down 2%, further extending its losses to trade below the $3,800 mark. Bitcoin Cash logged the largest losses of the top 10, down by nearly 7%.
- Markets closed on New Year’s: Many markets and exchanges around the world will be closed on New Year’s Eve and New Year’s Day. To stay updated on current market hours, please refer to the eToro Market Hours and Fees page. Please note that we will not be sending the daily market analysis on 31/12/18 and 1/1/19.
Disaster Recovery drill
On Sunday, December 30th, 2018, the eToro platform, and eToro Wallet, will be offline between 5:30 AM and 9:30 AM GMT, due to a Disaster Recovery drill. During this time, eToro web and the eToro mobile and Wallet apps will not be available.