Nasdaq · July 7, 2010
The start of a summer spent going up and down
+3.13%
single-day change vs previous close
Part of a longer stretch
Ten months the second round of QE bought
early in it · 2010-07-02 → 2011-04-29, +37.37% over the whole period
What happened that day?
- The Nasdaq rose 3.13% on the day — the largest single gain of this rally
- **No single cause for that day has been pinned down.** What is established is that it sat at the start of a ten-month climb
- The market in the summer of 2010 changed direction every few days, because nobody was sure the post-crisis recovery was real
- This was one of the days when that oscillation swung hard upward
- Across the whole stretch the index climbed into the following April. That direction, not any individual day, was the outcome
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.