Dow ends wild trading day up more than 550 points

“After two huge sell-offs in a row, U.S. stocks were all over the map on Tuesday,” Fred Imbert and Alexandra Gibbs report for CNBC. “Investors blamed the wild moves on a combination of interest-rate fears, computer-driven trading and the obscure volatility funds that use leverage.”

“The Dow Jones industrial average opened with a big whoosh lower, then rallied all the way back. The Dow closed 567.02 points higher at 24,912.77 and rose as much as 600.48 points. At its session low it was down by 567.01 points,” Imbert and Gibbs report. “It traded in a range of 1,167.49 points. DowDuPont was the best performer on the Dow, rising nearly 6 percent.”

“The S&P 500 ended 1.7 percent higher at 2,695.14 with tech as the best-performing sector. The Nasdaq composite gained 2.1 percent to close at 7,115.88.,” Imbert and Gibbs report. “‘We think this is an interruption [of the bull market] rather than the start of a bear market,’ said Craig Callahan, founder of ICON Advisers. ‘We didn’t see any of the typical conditions you get for a top.'”

Read more in the full article here.

MacDailyNews Take: This rollercoaster is one wild ride, so hang on tight!

SEE ALSO:
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Apple hits correction territory, closing down more than 10.5% from its January 18th record high – February 2, 2018
Dow plunges more than 600 points; Apple shares fall – February 2, 2018
Apple breaks record for biggest ever company profit – February 2, 2018
So much for worries over Apple’s iPhone X – February 1, 2018
MacDailyNews presents live notes from Apple’s Q118 conference call – February 1, 2018
Apple smashes Street with biggest quarter in company history – February 1, 2018

37 Comments

    1. Apple maintained almost twice the average gains of the market Tuesday, and did that consistently most of the day, without the extreme volatility of the rest of the market.

    1. Trump will be a one term wonder.
      Only in GOP-Land can one party control everything and blame a shutdown on the minority party. Awaiting the next Drumpf shutdown.

      CONservatives can suspend Senate rules and pass their budget without a single Democratic vote. They did it to steal a Supreme Court seat.

      1. Wow. You’ve completely ignored Harry Reid’s hand in starting this system.
        And Chuck Schumer’s hand in the shutdown.
        And Obama’s inability too ever pass a budget, only continuing resolutions.

        But then, reality is a bitch.

        1. President Obama only had issues passing budgets from 2011-2016, when the GOP straight up refused while in control of Congress. During his first two years, budgets were passed very easily. This is the only time in the HISTORY of this country when one party controls all levers of government when it’s been shut down. You can’t blame the minority when you have enough votes in both chambers and the executive branch, that doesn’t wash.

            1. We liberals don’t need or want any stinking Constitution; we are flexible so we just go with our feelings and emotions as they occur.

            2. I’m well aware of that threshold, and you might want to yell at the 5 gop senators who voted against it last time. Secondly, that’s only the rule to proceed to a vote, the actual bill can pass with 51. Thirdly, didn’t Supreme Court justices always take 60? Hmmm, oh wait? Yes they did, and your party decided to change the rules for Neil grosuch after deliberately not giving a lawfully nominated candidate a hearing for over a fucking year… don’t talk to me about the constitution or senate rules, you break every single one of them when it suits you, so if you want o pass a motherfukcing budget? Change the procedural vote rule to 51, and pass the fucking thing. Your cognitive dissonance is truly astounding, also your lack of education on the subjects which you seem to be ever so concerned about.
              And what about Pennsylvania where your party is blatantly ignoring the state Supreme Court ruling for them to redistrict, and also ignoring the US Supreme Courts rejection of their appeal by Sam Alito? Rule of law my ass you hypocritical pieces of shit. You do what you’re capable of doing, if you can change rules to suit yourself in Congress and run the fucking country? Do it. When the Supreme Court tells you to do something? You do it. Otherwise I can start refusing to listen to the police and never pay attention to any laws again… btw, I’m Black so I’m sure you wouldn’t like that would you. Go fuck yourself and your wilful misunderstanding of reality fuckstick.

        2. Harry Reid is retired. Schumer had nothing to do with the shutdown- the GOP could have suspended Senate Rules just like they did for Neil Gorsuch. The same is true of Democrats previously. I am not of either party.

          It is all GOP drama mama theater to get the base stirred up. Only in GOP land can something be the minority party’s fault when they have all the levers of government.

        3. You should at least try to be “fair and balanced,” right?

          First: The Democrats/Reid went to majority voting after a couple of years of determined and unprecedented levels of GOP obstruction on judge appointments, etc. The Trump GOP started with majority rule on day 1.

          Second: The Democrats never stooped to a majority vote for SCOTUS appointments. The GOP not only jumped right into majority vote approval of Gorsuch, but McConnell created that opportunity by the unprecedented move of refusing to even allow Obama’s appointee to go to the floor for a vote for around a year!

          So, reality may be a bitch, but your GOP fantasy of “this” is equivalent to “that” is the real turd. You and the rest of the complicit GOP are fooling yourself into thinking that the GOP’s degradation of the Senate process is OK. And now the GOP has stooped to releasing selected classified FISA information in a failed political ploy to skew the mindset of American citizens. Trump continues to attack the foundations of our country – free press, courts, intelligence agencies, etc. – using wild illogic and baseless innuendo and you and your ilk seem to think that it OK. Well, it isn’t OK.

          Trump likes throwing the word “treason” around. But the only recent actions that might qualify for that term have been taken by Trump and his staff and Congress. Nunes has a LOT to answer for.

          1. …happening now:
            “The FBI informant who spent 6 years Undercover and documented and has audio tapes exposing the uranium one scandal, has been testifying for the last 2 hours. We have two of the biggest scandals in the history of America, committed by many of the same people, being exposed now.”

            hope and change, mothafúckas!

            1. For comedic and Democrat hypocrisy value my favorite story of the day: https://www.google.com/amp/s/nypost.com/2018/02/07/russian-radio-hosts-once-pranked-adam-schiff-with-promise-of-naked-trump-photos/amp/

              Remember the Democrats and media going bonkers non-stop for over a week regarding Trump Jr. meeting with Russians for dirt on the Clinton campaign?

              Now we have the top Democrat on the House Intelligence Committee, on audio tape, negotiating for compromising photos of Trump — how delicious and poetic justice!

              And where is the outraged 24/7 MSM? As you are fond of saying, :::crickets:::

              DavGreg, just another daily lesson in liberal media BIAS, your welcome.

              The revelations coming out the last week too numerous to mention prove one thing. The Democrats are MASTERS at knowing what THEY DID wrong and launching an all out full court preemptive strike to accuse the other side of doing the same, when in the end the tactic is to mask their deeds. And the clueless suckers in the MSM swallow it hook, line and sinker — every time.

              Well, as the dossier, FISA, uranium informant, POTUS wants to know, missing text and E-mails et al. — pile up and will eventually be brought to light — when justice FINALLY PREVAILS this will make Watergate look like jaywalking by comparison.

              We live in interesting times …

          1. You actually BELIEVE in manipulated FAKE down votes specifically targeting conservative thought — MEANS VALIDATION?

            Well, some people actually believe movies are real, the tooth fairy and Obamacare will drive your costs down and you get to keep your doctor. Get a grip …

          1. Your short ride in attempting to utterly ruin this country will be short-lived. The adverse consequences, unfortunately, will take a decade or more to unwind. Congratulations, Trump-lover – you got Trumpanzee elected, achieved political dissonance, and began a new process of funneling $B in borrowed money to the wealthy. Job well done…

            The rest of us will clean up your mess – again.

    2. For a quick second there I thought you had gotten back on your meds. But I continued to read. You poor fellow. How did you get stuck with this job? No real work in Russia I guess.

      They have you trying to defend Cadet bone spurs. The rich kid that likes to play army, but no way in hell was he going to serve. You know if the draft ever comes back I hope the rule will be if you are breathing you are going. No deferments, not even for medal school. And yes women should have to serve. Many women do, and they do a great job. So, everybody into pool of defending your way of life. Freedom requires us all.

    3. Aside from the crazy level of Russian involvement with the 2016 campaign, in general, and Trump campaign officials, in particular, just wait until the massive increases in the deficit come rolling in from the tax cuts combined with increased spending and increase debt service costs due to higher interest rates. Then we will see what happens…

  1. My uncle who plays the stock market told me that it thrives on stability, that the incessant calls for impeachment contribute to economic uncertainty and social instability leading to market volatility.

    Aside from all of that, I think that Trump’s call to expand drilling and fracking (with which I strongly disagree) bodes well for the stock market in general and for continued economic prosperity or Wall St., money managers, and top Capitalists. I hope the next pres. gets the US off of its colonialist and war economy. But replaced by what? Perhaps in part by infrastructure R&D and implementation. Problem is that the world demands arms.

      1. And tweets all morning following the brainless outrage session with faux and friends isn’t media whoring?

        Last i checked, the constitutional duties of the president did not include acting as a reality tv whore for hours per day.

        1. Yeah, unlike “Kewl” Obama who jumped on a late night show every time he needed to push his bullshit agenda to the young mindless audience.

          But man, he was so kewl, wasn’t he???
          and thats all that matters to many.

          1. Classic whataboutism. Has no bearing on the fact that Trump spends far too much time getting misinformed by the Fox train every day. Obama’s gone. Worry about the current disaster of a president instead of the one that’s been gone for over a year.

            1. Classic do as we say, not as we do.
              My point is Obama used media to steer his agenda.
              Trump is doing the same in a different way.

              And misinformed? About what?
              Things that you don’t understand?
              Every indicator about the economy and foreign affairs have vastly improved the past year.

              We have even sold oil to the Middle East!!!

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