The Dow Jones Industrial Average surged on Monday, gaining over 1,200 points in a comeback rally that represented the blue-chip index's best one-day point gain in history.
The rally came as Wall Street traders were bullish after French Finance Minister Bruno Le Maire said G7 finance ministers would convene via conference call on Tuesday to discuss the virus and coordinate an economic recovery plan.
While that gain was very nice, it represents just a 30%'ish recovery of the terrible drop last week:
The Dow's performance was in stark contrast to the 3,500-point loss it suffered last week. The S&P 500 and the Nasdaq also soared on Monday, gaining around 4.5 percent by the closing bell.
Last week was the worst performance for all three major averages since the financial crisis, with the S&P 500, the Nasdaq, and the Dow all entering correction. Markets were down for seven straight days, with the Dow hitting its biggest ever drop on Thursday, with a record decline of 1,190 points.
Between coronavirus and the ever-increasingly-crazy election year dramatics here in the U.S., there is such crazy volatility in the markets.
Bunches of money is being made. And bunches of money is being lost.
Opportunity is out there. If you've not taken time recently to assess your investments and look at reallocating your portfolio/401K, now is a great time to get that done.
Grace & Peace & Love to you all -
Matt