Friends
Stocks had an upward bias right from the beginning of trading and were able to hold on to most of their gains as the trading session wore on. Not much to report on the economic front, but earnings season does begin after the close, with Alcoa’s release.
For the day, the Dow Jones Industrial Average was up 89 points to close at 15,225. The S&P 500 was up 8 points to finish the day at 1640. Gold was up $22 to trade at $1235 per ounce, while oil was down $.40 to trade at $102.82 per barrel WTI.
Corporate earnings and a Bernanke speech should dominate the news flow this week. Again, we are in an adjustment period (which we discuss in our quarterly outlook), so it will be interesting to see how the market reacts to whatever Dr. Bernanke says on Wednesday. We’ll keep you informed.
Have a nice evening everyone.
