Friends
We found out this morning that the final number for inflation as measured by the Consumer Price Index in 2021 was a whopping 7%. December’s number was up .5% so the trend might be easing just a little but not much. Stocks took the news pretty much in stride as the numbers did come in about as expected. After some seesaw action stocks did finish slightly higher for the trading session.
By the close, the Dow Jones Industrial Average was up 38 points to finish the day at 36,290. The S&P 500 was up 13 points to close at 4,726. The Nasdaq Composite Index was up 34 points to close at 15,188. Gold was up $8 to trade at $1,827 per ounce, while oil was up $1.32 to trade at $82.54 per barrel WTI.
We will get a look at wholesale prices tomorrow, and then on Friday we get our first look at 4th quarter earnings as the banks/financials kick things off. We’ll hear form JP Morgan Chase, Wells Fargo, Citi and Blackrock. Stay tuned.
Have a nice evening everyone.
