Wall Street Evens Out After Brutal Period

It’s been a nasty couple of weeks for the stock market. Major stocks have been sliding in value left and right, including all five members of the FAANG, all of whom ended up in the bear market last week. It seems, though, with a bit of healthy consumerism brought about by Black Friday and Cyber Monday, things are starting to re-stabilize on Wall Street.

Big-name sectors like Amazon and crude oil have regained some of their lost value, as have JPMorgan and Goldman Sachs. Recently, a large sell-off of tech stocks had some experts worried, but the record-breaking sales brought about by this year’s holiday shopping season has reinvigorated the market and given the tech companies some breathing room. Of special note is General Motors, whose stock jumped 6% after the announcement of their new cost-cutting plans. Several car manufacturers, such as Ford and Fiat Chrysler, also experienced jumps thanks to this news.

As of midnight last night, the Dow Jones had increased 1.01%, or 245.77 points, something to be glad about. However, financial experts are preparing for the upcoming G20 summit and the potential meeting between President Trump and President Xi Jinping. Any trade talks between the two could either improve or worsen the trade war between the US and China.

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5 years ago
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