Friends
Stocks rallied in the first hour of trading and it appears that everyone went home after that. There was a dead cat bounce in some of the tech names early on, but some of those gains bled away as the afternoon wore on (as did the gains on the Dow). On the economic front the Durable Goods number was weak, Leading Indicators came in about as expected, Existing Home Sales were ok, and Consumer Sentiment missed expectations. On balance, at best a mixed result of news on the economy.
As for stocks, by the close the Dow Jones Industrial Average was down 1 point to finish the day at 24,464. The S&P 500 was up 8 points to close at 2,649. Gold was up $6 to trade at $1,227 per ounce, while oil was up $1.07 to trade at $54.50 per barrel WTI.
With tomorrow being Thanksgiving, we would like to take this opportunity to thank all of you, our clients, for allowing us to be your guide on your financial journey. We strive to provide you with the best service in the industry and to be with you every step of the way on that journey. Have a great holiday feast with your loved ones. The office will close today at 3:30 and will be closed tomorrow for Thanksgiving. We will have the office closed on Friday, but will be available should you need anything. We’ll be back at it full throttle next Monday.
Happy Thanksgiving Everyone.
