Friends
Stocks rallied on upbeat news that came from the weekend meeting between the White House team and the Chinese contingent with regards to trade. Though no concrete agreement was produced, additional tariffs were put on hold and concessions appear to have been made. Whatever the reality, stocks rallied early and, though the highs were surrendered, the market averages were still able to post nice gains.
By the close, the Dow Jones Industrial Average was up 287 points to finish the day at 25,826. The S&P 500 was up 30 points to close at 2,790. Gold was up $9 to trade at $1,235 per ounce, while oil was up $2.22 to trade at $53.15 per barrel WTI.
With the death of President Bush 41, the markets will be closed on Wednesday this week. We will be in the office should you need anything. In addition we have the jobs numbers this week, as the ADP private payroll number will now be released on Thursday instead of Wednesday, and the non-farm payroll number on Friday. Though we didn’t close on the highs of the day, the bulls still have the hot hand as we enter the Christmas season. However, nerves still seem to be frayed as investors seem to be wary of headlines, and the wild gyrations that can quickly occur. Let’s see how the week plays out.
Have a nice evening everyone.
