Friends
The bulls began the month of December just as they finished the month of November. Stocks moved higher and some names that have lagged all year long are participating- finally. Today was broader based with all the market averages moving higher. The bulls are convinced that the Fed is done raising rates and though denying it, they will be lowering rates soon. We will see.
As for today, by the close the Dow Jones Industrial Average was up 294 points to finish the day at 36,245. The S&P 500 was up 26 points to close at 4,594. The Nasdaq Composite Index was up 78 points to close at 14,305. Gold was up $33 to trade at $2,090 per ounce, while oil was down $1.70 to trade at $74.26 per barrel WTI.
It looks like a clear path to year end for the bulls, but things are a bit overheated at the moment and it might be better if we saw a little pause next week. But, of course, I don’t have any control over that, so we’ll see if the bulls continue their charge during this holiday season. Stay tuned.
Have a great weekend everyone.
