Equity futures were giving back some gains following the biggest one-day Dow point gain in history.
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Dow Jones futures were lower by 1.5 percent. The S&P 500 dropped 1.4 percent and the Nasdaq Composite fell 1.7 percent.
European markets returned to trading following the Christmas and Boxing Day holidays to trade mixed. London’s FTSE was little changed, Germany’s DAX fell 0.7 percent and France’s CAC was up 0.6 percent.
In Asia, Japan’s Nikkei followed the Wall Street rally with a gain of 3.9 percent.
Chinese shares marked their lowest close in four years on Thursday, dragged down by Sinopec which fell after Reuters reported that the state-owned oil giant had suspended two top executives at its trading arm.
China’s Shanghai Composite index fell 0.6 percent.
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Hong Kong’s Hang Seng index fell 0.6 percent.
The Dow Jones Industrial Average surged on Wednesday in a seesaw session, as U.S. markets erased losses suffered in the most recent trading session on Christmas Eve.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 22878.45 | +1,086.25 | +4.98% |
| SP500 | S&P 500 | 2467.7 | +116.60 | +4.96% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6554.3552 | +361.44 | +5.84% |
The Dow rose more than 1,080 points, or nearly five percent, marking the first time in history the exchange rose more than 1,000 points in a single day of trading. The S&P 500 climbed more than 100 points, or about five percent, while the tech-heavy Nasdaq Composite rose more than 360 points, or nearly six percent.
All three major exchanges posted their largest single-day point increase on record. Gains in the tech and retail sectors drove the rally, helping the market recoup losses witnessed on Monday. The energy sector also rose, with U.S. crude oil prices soaring more than nine percent after weeks of declines.
Stocks had taken a beating recently on lingering worries about the economy and caution over persisting political uncertainties, as a partial federal government shutdown lingers and President Trump’s continues his hostile stance toward the Federal Reserve.
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U.S. stocks posted their worst Christmas Eve session ever on Monday, as a perfect storm of concerns drove investors to bail out of a market that was already badly bruised. The blue-chip Dow Jones Industrial Average had its steepest drop on Christmas Eve in its 122-year history. It also was the worst Christmas Eve for the tech-heavy Nasdaq Composite and the first time the broader S&P 500 ever had more than a 1 percent drop on Dec. 24.
Meanwhile, U.S. home price growth slowed in the month of October, according to data released Wednesday. The S&P CoreLogic Case-Shiller 20-city home price index rose 5 percent from the prior year, down from an annual gain of 5.2 percent in September. That’s down from a 5.5 percent yearly gain in the previous month.
