{"id":45353,"title":"Dow Climbs 1,050 Points in Largest-Ever Rally While Bitcoin Slumps","publisher":"Share Talk","author":"sharetalk","published":"2018-12-27T14:00:28+00:00","modified":"2018-12-27T14:01:17+00:00","canonical_url":"https://www.share-talk.com/dow-climbs-1050-points-in-largest-ever-rally-while-bitcoin-slumps/","markdown_url":"https://www.share-talk.com/dow-climbs-1050-points-in-largest-ever-rally-while-bitcoin-slumps.md","json_url":"https://www.share-talk.com/dow-climbs-1050-points-in-largest-ever-rally-while-bitcoin-slumps.json","category":"Fintech","categories":["Fintech"],"tags":["Bitcoin","Christmas rallies","cryptocurrency market","Dow Jones"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1","format":"news","language":"en-GB","content":"The US stock market may be in dire straits relative to its early-year performance, but don’t call it a recession yet. Bolstered by strong showings from the retail and energy sectors, the Dow Jones Industrial Average and S&P 500 each posted stellar post-Christmas rallies, even as the bitcoin price slumped several percentage points to headline a generally-sluggish day for the cryptocurrency market.\n\nBoth the [Dow](http://ccn.com/tag/dow-jones) and [S&P 500](http://ccn.com/tag/s&p-500) had waded into the red earlier in the day, but the two stock market indices roared back to life heading into the afternoon, breaking away from their [recent bearish trends](https://www.ccn.com/us-china-trade-war-sees-no-progress-trouble-for-the-dow-jones/). As of the time of writing, the Dow had rallied by 1,086 points for the day — its largest single-day gain ever — while the S&P 500 gained 4.95 percent after Mastercard SpendingPulse released [data](https://www.cnbc.com/2018/12/26/us-futures-following-christmas-eve-plunge.html) showing that retailers had experienced their best holiday spending season in six years.\n\n![](https://www.share-talk.com/wp-content/uploads/2018/12/Image-2018-12-27-at-1.56.33-PM-300x154.png)\n\nOn the crypto front, however, investors were much less enthusiastic. The bitcoin price traded down approximately 0.32 percent to a composite average of $3,819 over the previous 24 hours, and most other top 10-cryptocurrency assets posted minor pullbacks as well. Outside of the large-cap index, however, [ethereum classic](http://ccn.com/tag/ethereum-classic) — ranked 17th by market cap — headlined with a 10.31 percent rally to $5.15.\n\n*Featured Image from Shutterstock. Charts from [TradingView](https://www.tradingview.com/ideas/cryptocurrency/).*\n\n "}