Friends,
Against a backdrop of good earnings and favorable economic conditions, stocks continue to push higher. The President made news in his comments to those gathering in Davos when he let all know his feelings about the oil prices (Saudi’s need to lower), the Eurozone (not favorable), and lending practices at big banks (Bank of America). The president also mentioned that he wants lower interest rates.
As for today, by the close the Dow Jones Industrial Average was up 408 points to finish the day at 44,565. The S&P 500 was up 32 points to close at 6,118. Nasdaq was up 44 points to close at 20,053. Gold was down $9 to trade at $2,761 per ounce, while oil was down $1.19 to trade at $74.25 per barrel WTI.
It has been a great week for the bulls. Let’s see how it finishes out tomorrow. Stay tuned.
Have a nice evening everyone.
Jim
