Friends
Stocks enjoyed a nice rally at the opening of trading today led by a nice bounce in the price of oil. After that it appeared that traders went home. Indeed, after the initial surge, volatility was non-existent and stocks simply drifted near the highs of the day. It is not unusual for stocks to post gains during the shortened Thanksgiving week of trading, but the action is usually quiet.
As for today, by the close the Dow Jones Industrial Average was up 88 points to finish the day at 18,956. The S&P 500 was up 16 points to close at 2198. Gold was up $2 to trade at $1,211, while the aforementioned oil was up $1.80 to trade at $47.48 per barrel WTI. Nat Gas was up $.0121 to finish trading at $2.965.
President elect Trump continues to dominate the headlines, as the news organizations are letting us know everyone that is coming and going at Trump Tower. I’m not sure how it will affect trading, but the curiosity over who will fill what cabinet position has the press in a frenzy. I expect trading to lighten over the next couple of days as we prepare for Thanksgiving. We’ll let you know if anything interesting happens. In the meantime, we’ll just enjoy the advance in stock prices.
Have a nice evening everyone.
