Friends
Market participants are wading into the December trading waters with a bit of caution after the rise in stock prices that we have seen for the past 11 months. That doesn’t mean that they won’t get used to the water temperature soon enough and begin a rally that could lead us into a Christmas holiday. The good news for me is that the move higher has been more deliberate in recent weeks and not overly spastic.
As for today, by the close the Dow Jones Industrial Average was down 76 points to finish the day at 44,705. The S&P 500 was up 2 points to close at 6,049. The Nasdaq Composite Index was up 76 points to close at 19,480. Gold was up $6 to trade at $2,664 per ounce, while oil was up $1.92 to trade at $70.02 per barrel WTI.
We’ll see if the action picks up as we move into the last weeks of the year. It’s been an amazing year for the bulls. We’ll see if they have anything left to give.
Have a nice evening everyone.
Jim
