Friends
Bond yields fell quite a bit today (bond prices moving higher) which helped stocks maintain a solid footing for the moment. Yesterday’s stock rally while the bond market was closed appears to have mostly priced in the anticipated (given the global events) move in bonds that we would see today. It will be interesting to see if bonds continue to rally (they were due to) for a spell here while we move into earnings season. We get the PPI release on Wednesday and the much-anticipated CPI release on Thursday. They will also have an effect on interest rates this week. Stay tuned.
In the meantime, for the day the Dow Jones Industrial Average was up 134 points to close at 33,739. The S&P 500 was up 22 points to finish the day at 4,358. The Nasdaq Composite Index was up 78 points to close at 13,562. Gold was up $9 to trade at $1,873 per ounce, while oil was down $.57 to trade at $85.81 per barrel WTI.
Investors have a lot on their plate at the moment. You never know what headlines you might wake up to. Buckle up it will be a busy next few days.
Have a nice evening everyone.
