Dow Climbs 1,050 Points in Largest-Ever Rally While Bitcoin Slumps — Newsflash

Trump in talks to possible firing of Fed Chair Jerome Powell

"They're raising interest rates too fast", he said in the Oval Office after a Christmas Day phone call with USA troops.

But the comments were widely criticized by market watchers for raising new doubts, fears that were already brewing because of a partial United States government shutdown over Trump's battle with congressional Democrats to finance a wall on the border with Mexico. Both indices had their best day since August 2011.

Investors have been anxious for months about the potential impact of the US-China trade conflict on the broader economy, which poses risks to the world's two biggest economies, which are highly interdependent.

Stocks opened higher in NY after some market participants return from holiday.

"But what's bad is this made the papers, and says the government is very anxious", Krosby told the paper, adding that with investors focused on so many issues, "it's nearly as if gravity is pulling this market toward a lower level before it bottoms out". "The coast is clear, back up the truck, investors are saying enough already, the world is not ending".

Consumer discretionary, energy and technology stocks led the rally, with big names like Amazon, Apple, Facebook, Home Depot, Microsoft, Nike and Visa leading the uphill charge. "The only problem our economy has is the Fed", he said on Twitter on Monday. Shortly after 2 pm ET, the White House announced Trump and the first lady traveled to Iraq on Wednesday.

Homebuilders mostly rebounded after an early slide following a report indicating that annual USA home price growth slowed in October. Shares of department store JCPenney (JCP) dipped below $1 for the first time and Ford (F) stock was down as much as 9% this week. The S&P 500 was up more than 1% to 2,375, having approached the edge of a bear market. If history is any guide, the downturn will last about a year as bear markets have lasted 13 months on average since World World II.

They also seemed to find comfort in the words of Kevin Hassett, a top White House economic adviser, who assured reporters Wednesday the job of Federal Reserver Chairman Jerome Powell was "100 percent" safe despite numerous reports that President Donald Trump has been seeking ways to sack the central banker from his chairmanship.

Good travel day Monday, flurries may fall in time for Christmas
He said the province already has snow on the ground with temperatures forecast to be minus 12C on Monday and minus 16C on Tuesday. On Christmas Day , the temperature is expected to fall slightly short of that, Vallier-Talbot said, hitting 35 or 36 degrees.

Year-end and Christmas disruption has arrived just as fears of a global slowdown and personnel churn in the USA administration sap confidence.

Those doubts come of top of worries about how sharply the United States economy might lose steam next year.

"These are incredibly tricky markets to decipher, as the outsized moves are not reflective of the current USA economic landscape", said Stephen Innes, head of Asia-Pacific trading at Oanda Corp.in Singapore.

With more than 20 years' trading experience, Ed Moya is a market analyst with OANDA, producing up-to-the-minute fundamental analysis of geo-political events and monetary policies in the US, Europe, the Middle East and North Africa.

The only certain thing about the market this month is uncertainty. Despite Wednesday's rally, stocks are on track for their worst December since 1931, during the depths of the Great Depression. For example, stocks were up almost 400 points on Friday but ended the day down more than 400 points. The shaky trading followed a 5% plunge on Christmas Day that dragged the Japanese index into a bear market. The Shanghai Composite Index though was fractionally lower at 2,498, off 6.5 points.

Fears about slowing economic growth have been exacerbated by a series of unsettling moves from Washington in recent days.

Mnuchin held a call with big bank CEOs on Sunday following the turbulent week on Wall Street.

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