Friends
Stocks continue to push higher today despite or because of a hotter than expected CPI number and a better than expected retail sales number. It was curious why retail sales had been soft given the increase in consumer confidence lately, but perhaps today’s number is a sign of better things to come.
As for stocks, the bulls had the edge for most of the session and by the close the Dow Jones Industrial Average was up 107 points to finish the day at 20,611. The S&P 500 was up 11 points to close at 2,349. Gold was up $8 to trade at $1,234 per ounce, while oil was down $.11 to trade at $53.09 per barrel WTI.
What else can we say about the stock market? Whether for fundamental reasons or simply momentum, stocks continue to climb to new heights seeming each and every trading session. Let’s see if the bulls continue to force the action. The bears have to be close to throwing in the towel. As they say, don’t fight the tape.
Have a nice evening everyone.
