The US stock market may be in a situation of desperation over performance at the beginning of the year, but do not call it a recession yet. Supported by strong retail and energy indices, the Dow Jones and S & P 500 each recorded a dramatic increase after Christmas, even as the bitcoin price fell by a few percentage points, marking a generally unwelcoming day for the cryptocurrency market.
The Dow Jones and 500 S & P indices both fell early in the red day but both stock indexes came late in the afternoon back to life and continued its recent downward trend. At the time of reporting Dow had 1,086 points earned for the day, the biggest gain in a day, while the S & P 500 gained 4.95% after the data release of Mastercard SpendingPulse, showing that retailers their best season of vacation in last six years.
In terms of cryptocurrency, however, investors were far less eager. The price of bitcoins is reduced to about 0.32%, for a compound average of $3,819 to arrive in the last 24 hours, and most of the other top 10 assets for cryptocurrency assets also declined. In addition to the large-cap index, Ethereum Classic ranked 17 by market capitalization by 10.31% to $5.15.
Dow Jones might witness obstacles on the grounds of US-China trade war. The trade disputes amid two major economies have hampered every sector from technology to automobile and also impacting the relation of conglomerate in both nations. The leading electric car maker, Tesla has been doing business in China with low margin and selling its Model 3 at lower than initial value owing to tariffs raised by the Chinese government. Things would get more worst for Dow if the conflict doesn’t subside in a short period.
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