Friends
Another crazy day of trading as stocks continue to react to every report (true or not) about China and tariffs. After being down more than 300 Dow Points, stocks rallied on reports that China might be making some concessions and the tariffs which had been scheduled to take effect in January, might or might not be put on hold. I know, it is impossible to make investment decisions based on all this nonsense, but it’s music to the ears of the algorithms.
Anyway, by the close the Dow Jones Industrial Average was up 208 points to finish the day at 25,289. The S&P 500 was up 28 points to close at 2,730. Gold was up $4 to trade at $1,214 per ounce, while oil was up $.27 to trade at $56.52 per barrel WTI.
Most certainly, it’s better action for a down morning to turn into an up afternoon, but it’s hard to have a lot of confidence at the moment that any rally is sustainable. Maybe, the first bounce in the shares of Apple in days is a good omen. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
