Friends
This morning’s Consumer Price Index number was a little hot, but frankly not as hot as I believe market participants were expecting. The S&P 500 and the Nasdaq had nice days as only the Dow lagged, hurt by Johnson & Johnson and a few other names such as Goldman Sachs and J P Morgan Chase. J & J’s Covid-19 vaccine issues were the cause of its shares slumping, while the lack of a response from the bond market to the CPI number took a toll on the banks.
By the close, the Dow Jones Industrial Average was down 68 points to finish the day at 33,677. The S&P 500 was up 13 points to close at 4,141. The Nasdaq Composite Index was up 146 points to close at 13,996. Gold was up $12 to trade at $1,745 per ounce, while oil was up $.74 to trade at $60.44 per barrel WTI.
Well, just another record close for the S&P 500. What a run we have had since the market lows of March 23rd, 2020.
Have a nice evening everyone.
