Friends
Well the market certainly seems to approve of the message from the Fed yesterday. Stocks rallied from the opening bell and stayed strong throughout the day. Just as interesting, bonds sold off (rates moved higher). So after Monday’s selloff, the bulls have been able to repair most of the damage.
By the close, the Dow Jones Industrial Average was up 506 points to finish the day at 34,764. The S&P 500 was up 53 points to close at 4,448. The Nasdaq Composite Index was up 155 points to close at 15,052. Gold was down $30 to trade at $1,748 per ounce, while oil was up $.96 to trade at $73.19 per barrel WTI.
Monday’s action sure did spark some volatility but amazingly we are slightly higher for the week. Lets see which direction market participants take things tomorrow.
Have a nice evening everyone.
