Friends
With the aid of lower oil prices, stocks got back on the winning track today with the market averages pushing higher. Bonds, which have been active lately, were more quiet today as rates backed off slightly. Once again, we had a bit of a push higher near the end of trading which has been a recent pattern we noted last week. Nasdaq was the biggest winner among those market averages in today’s session.
By the close, the Dow Jones Industrial Average was up 349 points to finish the day at 34,707. The S&P 500 was up 63 points to close at 4,520. The Nasdaq Composite Index was up 269 points to close at 14,191. Gold was up $24 to trade at $1,962 ounce, while oil was down $3.50 to trade at $ 111.43.
On the economic front, we saw the lowest weekly jobless claims number in decades which highlights the one strength in the economy that the bulls can point to -employment. In the meantime, let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
