Dec. 19 (Bloomberg) -- New York Stock Exchange trading surged to a record 3.15 billion shares as derivatives expiration and changes to the Standard & Poor's 500 Index lifted volume to more than double this year's average. Yesterday was the last day of trading for December futures and options on U.S. indexes and stocks. The expiration, a quarterly event known as "quadruple witching," boosts volume because investors and dealers must buy and sell stocks and derivatives to move positions into future months and make corresponding trades to hedge, or cancel out, their risk of loss. Visa Inc. was among five companies that joined the S&P 500 yesterday, forcing funds that track the index to buy shares. U.S. trading has slowed as the S&P 500 rebounded from a 12- year low in March, with average monthly volume falling 36 percent. Fewer than 7.87 billion shares changed hands each day on U.S. exchanges during November, the lowest month average since August 2008, Bloomberg data show. Analysts including Mary Ann Bartels at Bank of America Corp. say the slowdown in volume was a bearish sign following the S&P 500's 63 percent surge.
Dec. 19 (Bloomberg) -- New York Stock Exchange trading surged to a record 3.15 billion shares as derivatives expiration and changes to the Standard & Poor's 500 Index lifted volume to more than double this year's average.
Yesterday was the last day of trading for December futures and options on U.S. indexes and stocks. The expiration, a quarterly event known as "quadruple witching," boosts volume because investors and dealers must buy and sell stocks and derivatives to move positions into future months and make corresponding trades to hedge, or cancel out, their risk of loss. Visa Inc. was among five companies that joined the S&P 500 yesterday, forcing funds that track the index to buy shares.
U.S. trading has slowed as the S&P 500 rebounded from a 12- year low in March, with average monthly volume falling 36 percent. Fewer than 7.87 billion shares changed hands each day on U.S. exchanges during November, the lowest month average since August 2008, Bloomberg data show. Analysts including Mary Ann Bartels at Bank of America Corp. say the slowdown in volume was a bearish sign following the S&P 500's 63 percent surge.
i was worried for a while that wall st would have a christmas out in the cold.
must be nice to know the full faith and power of the state is behind you when the next crash comes, and that unborn generations will pick up the tab on your losses, and let you keep the wins... hell, nice to know you own the only people who could change the situation.
happy revelling! it'll be a good year for moet and chandon. ~"When an inner situation is not made conscious, it appears outside as fate." Karl Jung~
