Friends
As we coast into year end, it is amazing to see that we have basically made a full round trip in the S&P 500 since the first trading day in 2022. After a mostly year long bear market in 2022 we have just about recovered every bit of the downturn here in 2023. The high closing price for the S&P 500 came on Jan 3rd, 2022, at 4796. By October 12, 2022 the index had fallen to 3,577. Today we closed at 4,783. But as we head into the New Year it appears that the bulls will hold the high ground.
As for today, by the close the Dow Jones Industrial Average was up 53 points to finish the day at 37,710. The aforementioned S&P 500 was up 1 point to close at 4,783. The Nasdaq Composite Index was down 4 points to close at 15,095. Gold was down $15 to trade at $2,077 per ounce, while oil was down $2.15 to trade at $71.96 per barrel WTI.
Again, it was a very quiet day of trading as it appears most fund managers have shut it down for the year. Let’s see how the year closes out tomorrow.
Have a nice evening everyone.
