In less than 48 hours, 2019 will come to an end. Now it the perfect time to summarize the most important days for the stocks. The trade war between the U.S. and China continued to dominate the headlines. Moreover, it had a huge impact on the stocks as it was the main driver in 2019.
Moreover, deteriorating trade tensions also affected the economy. The U.S. Federal Reserve reduced the interest rates three times to support the economy. Let’s have a look at five biggest days for the stock market.
The first one was on January 10. This was the best day of the year, as the U.S. stocks reached the highest points. On that day, the S&P 500 index rose by 3.4%. Meanwhile, the Dow Jones Industrial Average also recorded the best result of 2019. The Dow increased by 750 points or 3.3%.
Another important day is May 10. It is important to remember that May was the month when the trade tensions became very real for investors.
Stocks and biggest events
The second-best day of the year was another important day for the stocks. On June 4, the Chairman of the Federal Reserve, Jerome Powell, hinted that the bank was planning to reduce the interest rates. In total, Federal Reserve lowered the interest rates three times. The first reduction took place at the end of July.
Let’s move to other biggest days for the stock market in 2019. In August, the rhetoric between the U.S. and China created many problems for the stocks. As a result, on August 23, stocks logged their biggest swing in 2019.
Last but not least is December 13, as, on that day, the U.S. and China reached a “phase one” trade agreement. However, the stock ended more or less flat as investors are cautious when it comes to the trade war.
Despite all of the problems, Stocks achieved strong gains in 2019. For example, on December 13, the Dow and the S&P 500 surpassed all-time highs, which is a great result.