Friends
Frist of all, I hope everyone had a nice Christmas. Now, as for the markets, Christmas Eve was the first day of the fabled Santa Claus rally and we did see the market averages end slightly higher last Thursday. Today, day 2, saw stocks do even better. The market averages were up from the opening bell and were able to hold onto their gains throughout the trading session. The news that the President signed the Stimulus bill last night was all the bulls needed to get in an after Christmas buying mood.
By the close, the Dow Jones Industrial Average was up 204 points to finish the day at 30,403. The S&P 500 was up 32 points to close at 3,735. The Nasdaq Composite Index was up 94 points to close at 12,899. Gold was down $6 to trade at $1,877 per ounce, while oil was down $.56 to trade at $47.67 per barrel WTI.
There are three trading days left in 2020. Can you believe it? We are almost finished with this unbelievably challenging year. Let’s see if the bulls can keep the Santa Claus rally firing on all cylinders as the week unfolds. Stay tuned.
Have a nice evening everyone.
