Friends
The bulls continue to charge into the Thanksgiving holiday with the market averages posting gains once again. Unless we get bad inflation numbers or a very weak employment report in December it appears that the market has the wind at its back. Market participants don’t want to sell before year end thus incurring capital gains taxes, so stocks that have done well typically continue to do well into year-end. Of course, the markets can be very unpredictable, so you never know.
As for today, by the close the Dow Jones Industrial Average was up 123 points to finish the day at 44,860. The S&P 500 was up 34 points to close at 6,021. The Nasdaq Composite Index was up 119 points to close at 19,174. Gold was up $12 to trade at $2,631 per ounce, while oil was down $.28 to trade at $68.66 per barrel WTI.
I would expect trading to be light both tomorrow and Friday as it usually is around the Thanksgiving holiday. We’ll be here to let you know how the rest of the week plays out. In the meantime, you get ready to hopefully enjoy your loved ones on Thursday.
Have a nice evening everyone.
Jim
