Here Come The Bulls Again

Mar 27, 2024 | Market Commentary

Friends

 

As we have seen time and time again lately, stocks just can’t stay down for long. After a few days of lackluster interest, the bulls seemed to have rediscovered their appetite for stocks. Nothing has really changed with regards to the investing environment in the past few weeks, but every time stocks falter buyers appear to move the market averages back towards new all-time highs.

 

As for today, by the close the Dow Jones Industrial Average was up 477 points to finish the day at 39,760. The S&P 500 was up 44 points to close at 5,248. The Nasdaq Composite Index was up 83 points to close at 16,399. Gold was up $13 to trade at $2,212 per ounce, while oil was up $.09 to trade at $81.71 per barrel WTI.

 

Remember the markets are closed for Good Friday, so tomorrow is the last trading day of the quarter. We’ll let you know how the week, month and quarter all finish up tomorrow.

 

Have a nice evening everyone.

 

Jim 

Recent Posts

Tech Stocks Continue to Drag Market Lower

Tech Stocks Continue to Drag Market Lower

Friends The weakness in tech/AI stocks continues and the market averages, especially the Nasdaq, continue to lose ground as we get closer to year end. Instead of taking a victory lap the stocks that have been the leaders all year long are now cowering nervously in the...

Stocks Mostly Lower after Employment Data Release

Stocks Mostly Lower after Employment Data Release

Friends This morning’s release of the November non-farm payroll number showed that 64,000 new jobs were added, which was better than analysts had expected. The unemployment rate did tick up to 4.6%, which was actually more than expected. It’s hard to determine if this...

Stocks Soft As Economic Data Looms

Stocks Soft As Economic Data Looms

Friends Today was pretty much the same script we have seen over the past couple of weeks. The AI/big tech names came under selling pressure enough to take the market averages into negative territory. It’s hard to read too much into recent market action as we are so...