Friends
Stocks rocketed higher today adding to yesterday’s nice gains. Today, Nasdaq was the big winner tacking on a whopping gain of 3%. Things did cool off a bit into the early afternoon only to close strong in the end. Market participants certainly seem a lot more comfortable this week than last.
For the day, the Dow Jones Industrial Average was up 492 points to close at 35,719. The S&P 500 was up 95 points to finish the day at 4,686. The aforementioned Nasdaq was up 461 points to close at 15,686. Gold was up $7 to trade at $1,787 per ounce, while oil was up $1.92 to trade at $71.41 per barrel WTI.
We have had quite a roller coaster ride in stocks over the past couple of weeks. The previously beleaguered Nasdaq is now only 3.25% off its all-time high, while the S&P 500 is only 1.20% off its all-time high. The DJIA is still 2.31% off its all-time high. So, at the moment the damage inflicted in early December has been mitigated. Let’s see how the week rolls on.
Have a nice evening everyone.
