Friends
Stocks got off to a rip roaring start this morning with the Dow sporting a nifty 200 point gain shortly after the opening. But, as the morning wore on those gains eroded basically erasing the early morning advance. The bulls gathered themselves, however, and by the close were able to push the market averages nicely higher.
For the day, the Dow Jones Industrial Average was up 140 points to close at 25,657. The S&P 500 was up 20 points to finish the day at 2,818. Gold was down $7 to trade at $1,315 per ounce, while oil was up $1.16 to trade at $59.98 per barrel WTI.
Bonds yields are still dominating the conversation among investors and the expectations that the Fed will actually cut interest rates this year are gaining steam. I suspect that the bond market participants are getting a little ahead of themselves with all the rate cut talk, but It has become evident that the Fed has been somewhat forced into a dovish corner. In the meantime, are lower rates good for stocks?
Have a nice evening everyone.
