Friends
Another fascinating day in the markets. Bonds continue to sell off (rates rise) while stocks continue to make gains. Interestingly though, not all stocks are going up. For instance, the Dow was up a juicy 1.17% today, while the S&P was only up .20% and Nasdaq was actually down .81% (tech stocks leading the way down). What wasn’t working before is working now, and what was hot before is not now. It does appear that markets seem a little more relieved each time Donald Trump plays nice with someone.
By the close, the Dow Jones Industrial Average was up 218 points to finish the day at $18,807. The S&P 500 was up 4 points to close at 2,167. Gold was down $17 to trade at $1,256 per ounce, while oil was down $.79 to trade at $44.48 per barrel WTI. Natural Gas was down $.029 to trade at $2.661.
Things might be a bit more quiet tomorrow as the bond market is closed for Veteran’s Day. Stocks will be trading, but unless there is a major headline, I would suspect that trading will be light. It has been an amazing week to watch unfold, both on the political stage and in the markets. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
