The US stock market may be in serious difficulty compared to the performance of the first year, but it is not yet a recession. Backed by strong demonstrations in the retail and energy sectors, Dow Jones Industrial Average and S & P 500 have recorded stellar post-Christmas rallies, although the price of bitcoin has dropped by several percentage points to give life to a day generally weak for the cryptocurrency market.
Both Dow and S & P 500 had turned red at the start of the day, but the two stock market indices came back to life in the afternoon, breaking away from their recent bearish trends. At the time of writing, the Dow gathered 1,086 points for the day – its biggest gain of a day – while the S & P 500 gained 4.95 percent after Mastercard SpendingPulse released data that show that dealers had experienced their best spending season in six years.
On the cryptography front, however, investors were much less enthusiastic. The bitcoin price fell about 0.32% to a composite average of $ 3.819 in the previous 24 hours, and most of the other top 10 cryptocurrency activities also recorded small falls. Outside of the large cap index, however, ethereum classic – ranked 17th by market capitalization – went head on with a rally of 10.31% to $ 5.15.
Shutterstock foreground image. TradingView Charts.
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