Business

Wednesday's wild day: 504 stocks rose, and one fell

Posted December 26, 2018 5:52 p.m. EST

— There are 505 stocks in the S&P 500 index. On Wednesday, when the markets staged a stunning comeback, 504 of them rose.

Newmont Mining Corp (NEM) was the sole loser, falling 0.1%. It was the S&P 500's biggest gainer on Monday after gold prices rose.

Remember Monday? It was a virtual opposite of Wednesday: Stocks had their worst Christmas Eve in history; the Dow fell 650 points.

Wednesday was a very different story.

Tech stocks led the rally. Amazon soared 9.5%, Facebook (FB), Netflix (NFLX) rose 8%, Apple (AAPL) jumped 7% and Alphabet (GOOGL) was up 6%.

Energy stocks were close behind, led by Marathon Oil (MRO), which surged 11.9%. Hess (HES) was up 11%.

Consumer product stocks also rose sharply. Kohl's (KSS) was up 10.3% and Nike (NKE) rose 7.2%. Mastercard reported that the American retail industry had its best holiday season sales in six years. Amazon (AMZN) reported that it had a robust holiday period. That suggests rising wages and lower gas prices are helping boost consumer spending — the biggest contributor in America's GDP.

Even shares of JCPenney (JCP) rose on Wednesday. The venerable and now endangered department store chain dipped below $1 for the first time ever, ended the day 3% higher.

Another embattled stock, Ford Motor (F), which is down 36% year to date and hit a nine-year low earlier in the day, ended Wednesday slightly higher.