Today was a good day - the best day of 2018, back up nearly 1,100 points.
According to the local Washington D.C. newspaper
it was the “ best day, ever!”
800 points below what it was a.week ago. Best day! But it least it gives you something to talk about besides pretending lowering gas prices was because of Trump's energy policies.
I never said that.
But behave as expected.
Notice that oil had a large increase in price, the biggest upsurge in two years, and the overall market still had its best day, EVER.
I was thinking percentage when I said best day, rather than raw points.
In terms of total points, that's correct. But before you get to ebullient about that...
Of the 10 largest single day gains ever in points, 9 of them were either 2008 (3) or 2018 (6).
Of the 12 single largest day losses ever in points, 11 of them were either 2008 (4) or 2018 (7).
(Of the top 20 gains, 2 more 2008 and 2 more 2018. Of the top 20 losses, 4 more 2018 - more than half in this year, alone.)
Looking at the percentages, this gain doesn't crack the top 20 biggest ups! 2008 had a couple of those. 2009 another. But 15 of them came during the Great Depression.
And the worst downs? 3 from 2008. Only 8 from the Great Depression. One of the 1000+ drops was even greater than this up was an up, but not as high a percentage, as it came from 2000 points higher.
But I really don't think roller coaster ups and down all year are a sign of stable economy or country.
I'm a lot less sanguine about the situation than you are.
What have you shown that represents an UNSTABLE economy?
To anybody but you, plenty. This kind of volitility in the stock market only comes in years in which a substantial recession or depression has followed.
To you, nothing, because you only see what you want to see and only discuss that which favors your previously held position.
For example, your exuberence over yesterday's stock market compared with silence the rest of the time over the last week, including today, with its 500+ plus drop (so far).
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