Friends
Stocks were having a nice quiet day until a report hit the wires from the Wall Street Journal that the Trump administration was possibly willing to drop tariffs on Chinese goods in order move the trade talks towards the finish line. As that hit the tape, stocks rocketed about 200 Dow points higher. But, after not unexpected denials of the story stocks settled back but still in positive territory for the day.
By the close, the Dow Jones Industrial Average was up 162 points to finish the day at 24,370. The S&P 500 was up 19 points to close at 2,635. Gold was down $2 to trade at $1,291 per ounce, while oil was mostly unchanged to trade at $52.31 per barrel WTI.
The big earnings release after the close will be from Netflix. Being such a high flier of a stock, it could have an effect on tomorrow’s trading action. It’s been a good start to the year for the bulls. We still sit right in the meat of resistance, technically speaking, but all in all the bulls have to be encouraged. Let’s see how the week finishes off tomorrow.
Have a nice evening everyone.
