stocks rebounded sharply on Wednesday. The Dow marking its biggest point gain in a single day ever, surging 1,000 points after tanking on Christmas Eve. The S&P 500, which was on the brink of a bear market, also hit a record, posting its biggest one day gain in more than nine years.
It closed up nearly 5% while the Nasdaq ended at nearly 6%. The good news fueled by a surge in retail shares led by Amazon on news of another record breaking holiday season. Amazon ended up 9%, and Facebook shares jumped over 8% after an analyst predicted the stock could hit 160 in 2019.
Adding that the company's revenue and user base have seen little impact from the reported data scandals and privacy issues this year. Wednesday's session, a relief for investors who have been unnerved by the potential for weaker economic growth and a partial government shutdown. In an apparent attempt to calm Wall Street nerves frayed by Trump's criticism of the Federal Reserve, White House officials said Wednesday that Fed Chair Jerome Powell's job was safe.