>> US stocks rebounding Wednesday with the S&P 500 pulling back from the brink of bear market territory following a punishing few sessions. Stocks were up 2% across the board with the Dow surging over 600 points in the afternoon. Tech stocks also moved higher. Amazon rose over 6% on news of another record breaking holiday season.
And Facebook shares jumped over 6% after an analyst predicted the stock could hit 160 in 2019. Adding the company's revenue and user base have seen little impact from the reported data scandals and privacy issues this year. Tuesday's session a relief for investors as US markets have fallen precipitously in recent weeks over concerns that economic growth could slow as interest rates rise.
US President Donald Trump on Tuesday continued to criticize the Federal Reserve for following through on its planned interest rate hikes.>> They're raising interest rates too fast because they think the economy is so good.>> On Christmas Eve the Dow Jones Industrial Average dropped more the 650 points.
Compounding the investor concerns, Washington on Wednesday was in the fifth day of a partial government shut down that could continue into the new year.