Friends
After last week’s miserable market action and the horrible terrorist’s events in Paris on Friday evening, I wouldn’t have blamed you if you thought we might have a pretty ugly market to deal with this morning. On the contrary. Though we started somewhat slow and timid, the bargain hunters turned some early morning nibbling into a full-fledged buying spree as the trading session wore on.
By the close, the Dow Jones Industrial Average was up 237 points to finish the day at 17,483. The S&P 500 was up 30 points to close at 2053. Gold was up $1 to trade at $1082 per ounce, while oil was up $1.31 to trade at $42.05 per barrel WTI.
Of course, the Paris attacks have dominated the news since Friday, and understandably so. But the resiliency of the markets after events like these is really remarkable. Perhaps we are just getting used to these awful attacks, or maybe it’s just capitalisms way of saying we won’t let the bad guys win. Whatever the reason, it was a very good day for the markets considering the circumstances. We’ll just have to see how the week unfolds.
Have a nice evening everyone.
