Friends
After a mild dip at the open this morning stocks moved calmly higher and held onto modest gains throughout the trading session. Though stocks have enjoyed more than a week of trading gains now, it’s still hard to find much enthusiasm for this market. The bears aren’t buying it, and even the bulls seem to feel somewhat unsure of it all. Interestingly after a sharp rise resulting from the middle east conflict, oil prices have fallen sharply over the past week. Bond yields have settled at lower levels for the moment and the economy seems to finally be slowing as the Fed has wanted for some time now.
As for today, by the close the Dow Jones Industrial Average was up 56 points to finish the day at 34,152. The S&P 500 was up 12 points to close at 4,378. The Nasdaq Composite Index was up 121 points to close at 13,639. Gold was down $14 to trade at $1,974 per ounce, while oil the aforementioned oil was down $3.39 to trade at $77.43 per barrel WTI.
We don’t get inflation numbers until next week so it’s hard to determine what will move stock prices for the rest of the week, especially if the bond market does calm down some. We will see. Stay tuned.
Have a nice evening everyone.
