NEW YORK (CBSNewYork) — Santa Claus is coming to Wall Street, albeit a day late but most definitely not a dollar short.
All three major indices had their biggest point gain ever. Wednesday snapped four days of steep losses, and distances the market from bear territory.
It was also the first time the Dow Jones Industrial Average climbed more than 1,000 points in a single day.
At the 4 p.m. closing bell, the big board was up 1,086 points. It was the biggest daily point gain ever, and accounted for a rise of nearly five percent — the market’s best percentage gain since 2009.
The S & P 500 jumped 116 points, and the NASDAQ rose 361, all so their largest point gains ever.
Tech stocks did particularly well, with Amazon spiking nearly 10 percent to finish at $1,470.90 per share.