Friends
What a difference a year makes. Last Christmas Eve I sat staring at my computer screen while stocks tumbled in historic fashion. That 20% drop we saw in the 4th quarter of 2018 left investors quite shaken and fearful of what was ahead in 2019. Well, as we know the Federal Reserve stepped up with easy money (rate cuts) and stocks enjoyed a banner year, so far, in 2019. Today’s action was as expected, mostly comatose.
So, by the close the Dow Jones Industrial Average was down 36 points to finish the day at 28,515. The S&P 500 was down a fraction to close at 3,223. Gold was up $14 to trade at $1,503 per ounce, while oil was up $.45 to trade at $60.97 per barrel WTI.
Let me just take this opportunity to wish everyone a very Merry Christmas from all of us at CHJ. Enjoy this special season with your loved ones. We’ll be back in the office on Thursday.
Merry Christmas
