Dow Charges Out of Slump on Volatile Tuesday for Stocks
Following a brutal two-day plunge, the Dow Jones industrial average regained ground on Tuesday to the delight of stock market bulls.
A whipsaw trading day that saw the major indices flip back and forth between big gains and steep losses ended with a booming rally and a sigh of relief across Wall Street.
What Happened in the Stock Market Today?
The Dow, which opened Tuesday, Feb. 6, down by 261 points, eventually rebounded for a 2.3% gain to close at 24,912. That 567-point recovery offers investors at least a little respite -- and a moment to think about the all-important bigger picture.
The bull market may have been shaken, but it's still intact, and it's still sitting on a stable foundation. Nothing about the past few trading days has changed the fact that the economy is healthy. Investors should take a few minutes to look at the list of positive indicators signaling America's economic strength -- they'll find there are few reasons to sell. In fact, one market expert even says that's a reason to get bullish on commodities again.
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That doesn't mean stock volatility is about to simply disappear. Stocks still are overpriced compared to historical averages, and the potential for the bond market to continue sliding hasn't been put to bed. If nothing else, we could be in for a riskier stretch compared to the all-time-low volatility we saw in 2017. The return to higher market volatility can be especially worrisome for retirement savers. Here are several tips to safeguard what you've already socked away in your nest egg.
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Kyle Woodley is the Editor-in-Chief of WealthUp, a site dedicated to improving the personal finances and financial literacy of people of all ages. He also writes the weekly The Weekend Tea newsletter, which covers both news and analysis about spending, saving, investing, the economy and more.
Kyle was previously the Senior Investing Editor for Kiplinger.com, and the Managing Editor for InvestorPlace.com before that. His work has appeared in several outlets, including Yahoo! Finance, MSN Money, Barchart, The Globe & Mail and the Nasdaq. He also has appeared as a guest on Fox Business Network and Money Radio, among other shows and podcasts, and he has been quoted in several outlets, including MarketWatch, Vice and Univision. He is a proud graduate of The Ohio State University, where he earned a BA in journalism.
You can check out his thoughts on the markets (and more) at @KyleWoodley.
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