Friends
Stocks rallied right from the start of trading today, and if you tend to think that this weekend’s political happenings are the determining factor in the rally, then I’ll leave it to you to decide why stocks are up (no political commentary here). Of course as I write, the Republican Party seems to be burning itself to the ground, but that’s just an observation, not a political commentary (Paul Ryan giving himself a little space between Mr. Trump and his friends in Congress).
Earnings season is upon us, but we haven’t yet really begun to get the flow of reports, so today’s rally was not earnings related. Nevertheless, by the close the Dow Jones Industrial Average was up 88 points to finish the day at 18,329. The S&P 500 was up 9 points to close at 2,163. Gold was up $8 to trade at $1,260 per ounce, while oil was up $1.38 to trade at $51.19 per barrel WTI.
We’ll have the quarterly update in your email box in the next day or two-clients, of course, will receive a hard copy with your quarterly summary by mail. In the meantime we will be dealing with politics for a while longer, but hopefully we can spend some time on earnings as the reports begin to be released. We’ll let you know how the week unfolds.
Have a nice evening everyone.
