Nasdaq · December 5, 2001
The day recovery felt close
+4.27%
single-day change vs previous close
Part of a longer stretch
The three and a half months after the attacks
near the end of it · 2001-09-21 → 2002-01-04, +44.70% over the whole period
What happened that day?
- The Nasdaq rose 4.27% on the day
- Manufacturing and employment-related figures came in better than expected, tilting opinion toward the recession ending soon
- Hopes were high that the effect of the Fed's eleven cuts that year was finally arriving
- The US recession did in fact end that November, as was confirmed later. The expectation was right
- Shares nevertheless fell further the following year. That prices fell after the economy turned means the problem lay elsewhere
- The next year's problem was not the economy but whether the numbers companies reported could be believed
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.