Friends
Stocks continue to rally into the upcoming holiday weekend despite getting no help from energy or financial shares. The winners are the same ones that have been winning for some time now. Google (Alphabet), Amazon, Apple, Facebook and Netflix shares seem to climb higher every trading session, while the rest of the market seems to be watching and cheering them on from the sidelines. Today consumer staples joined in the fun as did a few selected retailers like PVH and Best Buy.
By the close, the Dow Jones Industrial Average was up 70 points to finish the day at 21,082. The S&P 500 was up 10 points to close at 2,415. Gold was up $2 to trade at $1,255 per share, while oil had an awful day down $2.65 to trade at $48.71 per barrel WTI.
As we have been saying, the bulls have been reinvigorated since the one day bear market that we experienced last week (I’m being a wise guy, of course). Let’s see if stocks continue their winning streak, as the week winds down tomorrow.
Have a nice evening everyone.
