Friends
The bulls tried to resurface today but did so without much conviction. The Dow had a couple of nice runs higher but in the end the market averages limped into the close and for the most part stocks were lower.
For the day, the Dow Jones Industrial Average was up 10 points to finish the day at 37,440. The S&P 500 was down 16 points to close at 4,688. The Nasdaq Composite Index was down 81 points to close at 14,510. Gold was up $9 to trade at $2,052 per ounce while oil was down $.36 to trade at $72.34 per barrel WTI.
We get the non-farm payrolls number tomorrow. Pundits are looking for about 170,000 new jobs to have been created in December. Then in the next few weeks we enter an all-important earnings season. After nine straight weeks of higher prices (this week notwithstanding), the burden of proof will be on the bulls. Earnings need to confirm the story the market has been telling. We’ll let you know how the week finishes out tomorrow.
Have a nice evening everyone.
