S&P 500 · April 23, 2019
The Fed pivot rally
+24.78%
trough back to the old high
81 trading days · 2018-12-24 → 2019-04-23
this undid the slide that began 2018-09-20
What happened that day?
- From the 24 December 2018 low to 23 April 2019 the S&P 500 rose 24.78% — 81 trading days
- It undid the Q4 2018 selloff driven by rate hikes and the US–China trade war
- The turn came in early January when the Fed chair made clear there was no hurry to raise rates further
- Until then the market's worst fear was the Fed tightening into a slowdown. That worry cleared
- Reports of progress in the US–China talks reduced the trade worry too
- The old high was back on 23 April — four months
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.