Friends
Investors seemed to be in buying mood after the 3-day weekend, despite financials basically selling the good news. The big banks and brokerages have mostly posted very good earnings numbers but we’ve seen their shares sell off just a bit. Remember, these stocks had rallied over the past few weeks violently, so it’s not real surprising that there has been some profit taking over that last couple of trading sessions.
As for the overall averages, by the close the Dow Jones Industrial Average was up 116 points to finish the day at 30,930. The S&P 500 was up 30 points to close at 3,798. The Nasdaq Composite Index was up 198 points to close at 13,197. Gold was up $9 to trade at $1,839 per ounce, while oil was up $.64 to trade at $53 per barrel WTI.
We had a re-emergence of the large cap growth names participating today with Amazon, Apple, Netflix, Google and Facebook all higher on the day. Today was the last day of President Trump’s term and the stock market gave him a nice sendoff. Whatever your political beliefs, it must be noted that the stock market did very well over the last four years. Now, let’s see what we have in store going forward. Stay tuned.
Have a nice evening everyone.
