Friends
Traders seem to be putting the Syrian situation on the back burner for now, and for the most part, the bulls have taken charge of the situation. For the third trading session in a row the Dow has sported a triple digit gain. The S&P was not as fortunate, but nevertheless stocks continue to have an upward bias. We will get some economic data over the next couple of days that should play into the market’s direction, as traders change their focus to the economy and the Fed.
For the day, the Dow Jones Industrial Average was up 135 points to close at 15,326. The S&P 500 was up 5 points to finish the day at 1689. Gold was unchanged for the day trading at $1354 per ounce, while oil was up $.37 to trade at $107.76 per barrel WTI. The Dow is now comfortably north of the 15,000 level and the bulls are trying to recapture 1700 on the S&P. We’ll see if they can do so by the end of the week.
On this, the anniversary of 9/11 it’s always good to take a moment and remember our fallen friends and heroes. The financial industry was hit especially hard by the tragedy and so I always spend this day each year reflecting about that day, and what it meant to me and also this country. We’ll watch the economic data coming tomorrow and Friday and let you know how markets react.
Have a nice evening everyone.
