Friends
With little news on the stimulus front, and nothing new on the Covid-19 vaccine front, the market averages (other than the Nasdaq) spent most of the day in negative territory. Are we a bit overbought at the moment? Probably yes. Are stocks a bit overvalued at the moment? Probably yes. Nevertheless, vaccines are on the way and December tends to be a pretty good month for stocks.
As for today, by the close the Dow Jones Industrial was down 148 points to finish the day at 30,069. The S&P 500 was down 7 points to close at 3,691. The Nasdaq Composite Index was up 55 points to close at 12,519. Gold was up $26 to trade at $1,866 per ounce, while oil was down $.62 to trade at $45.64 per barrel WTI.
We do get some offseason earnings this week from the likes of Costco, Lululemon, Adobe, Oracle, Autozone, and GameStop. But, for the most part, Covid-19 and stimulus deal headlines will likely be the focus of investors this week. Stay tuned.
