Friends
I had to laugh. I have been whining about the poor start to the year for stocks and in two days we are back to hitting new all-time highs. Talk about fake news and misinformation. I’m throwing the yellow flag on myself. Anyway, so much for the “slow start”. Economic data continues to give the bulls cover in that a recession sure isn’t happening for now at least. Retail sales, consumer confidence, unemployment claims – all showing positive signs. Maybe earnings in the next couple of weeks will change the tone, but if not, well, the bulls seem pretty comfortable at the moment.
As for today, by the close the Dow Jones Industrial Average was up 395 points to finish the day at 37,863. The S&P 500 was up 58 points to close at 4,839. The Nasdaq Composite Index was up 255 points to close at 15,310. Gold was up $9 to trade at $2,031 per ounce, while oil was down $.31 to trade at $73.77 per barrel WTI.
Remember Apple was dragging things down just a couple of days ago. So much for that, in just a few days the bellwether moved up about 10 points and is almost now flat for the year. Things change quickly don’t they? No excuse, there’s still a flag on the field.
Have a great weekend everyone. Go Texans!
