Friends
It was no surprise that we had another volatile/swinging day in stocks. Early in trading stocks were posting triple digit gains for the Dow only to see that evaporate and turn into triple digit loses. The bulls tried to rally the troops in the last half hour of trading, but fell short in the end.
By the close, the Dow Jones Industrial Average was down 100 points to finish the day at 25,286. The S&P 500 was down 4 points to close at 2,722. Gold was down $1 to trade at $1,202 per ounce, while oil was down a massive $4.95 to trade at $54.98 per barrel WTI.
Despite a stellar earnings report from Home Depot, and some soothing words with regards to a trade deal with China from White House economic council head Larry Kudlow, stocks just could not muster much of a buying spree. The bulls are definitely fighting it at the moment. Since last Wednesday’s surge after election night, the bears have been firmly in control, basically raining on any rays of hope. The daily action has been disappointing with early rallies being quickly sold, and afternoon weakness appearing almost daily. Let’s see if the bulls can break this trend by the end of the week. Stay tuned.
Have a nice evening everyone.
