Dow rallies, closes up more than 1,000 points

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The Dow Jones Industrial Average rose 1,086 points, gaining almost 5 percent, the biggest point gain in history, Wednesday afternoon after a rough Christmas Day. The S&P 500 rallied 5 percent, the Dow Jones Industrial Average added 1,086 points, and the Nasdaq 100 had its best day since 2009. Nasdaq rose 5.8 percent or 361 points to 6,554.

Sales in the 2018 US holiday shopping season rose 5.1 percent to over $850 billion, the strongest in six years, according to a Mastercard report. Marathon Petroleum slid 2.1 percent to $57.14.

Markets were roiled ahead f the Chrismas break due to a number of political headlines taking the limelight.

Monday morning's drop in US financial markets began after Trump tweeted about the Fed.

Kevin Hassett, chairman of the White House Council of Economic Advisers, said yesterday that U.S. Federal Reserve Chairman Jerome Powell's job was not in jeopardy. Chris Weston of Pepperstone Group Limited said in a market commentary.

Gold edged up 0.6 percent to $1,281.10 an ounce and silver gained 1.2 percent to $15.31 an ounce.

Some of what Wall Street sees coming out of the White House has added to the market's uncertainty, specifically the president's attacks on the Fed and remarks about the ongoing trade conflict with China.

USA stocks had plummeted before Christmas after President Donald Trump anxious investors by criticizing the U.S. central bank, but strong holiday sales helped relieve concerns about the state of the USA economy.

Indonesia widens exclusion zone around island volcano after tsunami
That tsunami and preceding magnitude 9.1 quake off the coast of Indonesia killed 230,000 people in 14 countries. A five-kilometre exclusion zone around the volcano has also been imposed, the BBC reported on Thursday.

Stocks have been in a downward spiral with the Dow and S&P 500 down more than 12 percent this month - on track for their worst December performances since the Great Depression in 1931. The data reportedly calmed recent concerns over the USA economy.

Thursday's sharp swing in stocks followed their best day in 10 years. The index fell to 21,792.20 points at the end of trading, down 18.8 percent from its peak on September 20. Many economic barometers still look encouraging. Kohl's gained 8.3 percent to $64.75. But such gains would come with that one big catch.

Major indexes in Europe closed lower.

Bond prices fell. The yield on the 10-year Treasury rose to 2.76 percent. In the previous six sessions, the S&P 500 managed to avoid a decline of greater than 1.5 percent just once, extending a December loss that exceeded 14 percent.

CURRENCIES: The dollar strengthened to 110.57 yen from 110.41 yen on Monday.

It's not as if all the world's problems were suddenly solved over Christmas-the US government remains shut, the trade war continues, the economic worries that helped knock the market from its all-time highs earlier this year loom in the background. The euro rose to $1.1397 from $1.1353.

The Dow Jones lost 2.9 percent and the benchmark S&P500 lost 2.7 percent after the president's tweet expressing frustration over the Fed's decision to raise its key short-term rate. South Korean shares tumbled after a holiday, and Shanghai stocks fell for a second day.