Friends
The roller coaster ride in stocks continued as the market averages pushed nicely higher in today’s trading. Perhaps the Omicron variant will pack a less lethal punch. Perhaps the markets have come to grips with a more hawkish Fed. Or maybe today’s trading was simply some market participants looking for some holiday season bargains as we move towards the end of the year.
For the day, the Dow Jones Industrial Average was up 646 points to close at 35,227. The S&P 500 was up 53 points to finish the day at 4,591. The Nasdaq Composite Index was up 139 points to close at 15,225. Gold was down $4 to trade at $1,779 per ounce, while oil was up $3.39 to trade at $69.65 per barrel WTI.
On the economic front we will get a look at the Consumer Price Index on Friday. I’m sure the Fed will be laser focused on that number. In the meantime we will see if the volatility continues or will things begin to settle back down a bit as we head towards Christmas and the end of the year. Stay tuned.
Have a nice evening everyone.
