Friends
It was another somewhat squishy day for stocks. The bulls bid things up a bit early in the trading session, but as the day wore on buyers disappeared and stocks slipped back into negative territory. With news that President Elect Biden is going to unveil a nearly 2 trillion dollar stimulus package this evening sent interest rates a little higher and continued to fuel the rally in small cap stocks.
By the close, the Dow Jones Industrial Average was down 68 points to finish the day at 30,991. The S&P 500 was down 14 points to close at 3,795. The Nasdaq Composite Index was down 16 points to close at 13,112. Gold was down $8 to trade at $1,846 per ounce, while oil was up $.75 to trade at $53.66 per barrel WTI.
As mentioned, it’s been a quiet week market wise, but we will kick off earnings season tomorrow with releases from a few money center banks. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
