Futures point to slight decline for US stocks after the Dow’s record-breaking Wednesday – CNBC

Futures implied Wednesday night that U.S. stocks were headed for slight declines when they open on Thursday.

That slight pullback would do little to dent Wednesday’s post-Christmas surge for American stocks.

Dow Jones Industrial Average futures implied a opening slip of 51.45 points for the index on Thursday, as of 7:13 p.m. ET Wednesday. S&P 500 and Nasdaq futures also pointed to slight declines for the other two major indexes on Wall Street when they open.

That follows the Dow Jones Industrial Average posting on Wednesday its largest single-day point gain in history, jumping 1,086.25 points, or 4.98 percent, to close at 22,878.45. The day’s gain also marked the biggest upside move on a percentage basis for the Dow since March 23, 2009, when it rose 5.8 percentage points.

The S&P 500 also catapulted 4.96 percent — its best day since March 2009 — to finish the trading day at 2,467.70. The Nasdaq Composite also had its best day since March 23, 2009, soaring 5.84 percent to close at 6,554.36.

That positive momentum appeared to carry over into the Asian trading session on Thursday, with shares mostly seeing gains as Japan’s Nikkei 225 surged more than 3.5 percent in early trade.

Wednesday marked the biggest post-Christmas rally for U.S. stocks ever.

Because U.S. exchanges were closed Tuesday for the holiday, the moves on Wall Street followed Monday’s sharp sell-off, which sent the major indexes down more than 2 percent and ended with the S&P 500 falling into a bear market. The S&P 500 was down 20.06 percent from an intraday record high set on Sept. 21 before Wednesday’s sharp rebound.

— CNBC’s Fred Imbert contributed to this report.

Source: https://www.cnbc.com/2018/12/27/futures-on-the-back-of-wednesdays-wall-street-surge.html

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