Friends
It was another very mixed day in the financial markets. Bond prices continue to fall (rates rise), gold has been demolished as of late, oil has rocketed over $50 per barrel after the OPEC announcement, and stocks continue to separate recent winners from losers. The stocks winners have been energy, industrials and financials. The biggest loser continues to be technology. While the DJIA is reaching new highs, Nasdaq is slumping.
For the day, the Dow Jones Industrial Average was up 68 points to close at 19,191. The S&P 500 was down 7 points to finish the day at 2191. Gold was up a fraction to trade at $1,174, while oil was up $1.36 to trade at $50.80. Nat Gas was up $.0164 to finish trading at $3.516. As mentioned while the Dow was up, Nasdaq was down more than 1 ¼ %.
The jobs number should be the focus of traders tomorrow, but one is never sure what is going to come out of the Trump camp on a day to day basis which might dominate the headlines. December is off and running, but one would be challenged to chart a course given today’s mixed action. We have asset classes headed in different directions, and a massive rotation going on within the stock market itself. Let’s see how the week finishes out tomorrow.
Have nice evening everyone.
