Stock Pops Like Monday’s 5% See Mixed Record of Going Places
- Prior surges of Monday’s magnitude offer few clues for bulls
- S&P 500 surged 4.6% for the biggest rally since December 2018
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The last time stocks did this, two Christmases ago, nobody thought it would last.
It was Dec. 26, 2018, when the Dow Jones Industrial Average surged 5% from the bottom of the bull market’s worst sell-off. Wall Street veterans were nearly unanimous in their skepticism. Also: they were wrong. The bounce was the first step of a rally that would lift the gauge 35% in a little over a year.