Friends
The much ballyhooed meeting of oil producing nations in Doha, Qatar ended just as we suspected- with no agreement. Oil prices fell overnight, but recovered a good portion of those losses during today’s trading session. Likewise, stocks sold off at the opening bell, but buoyed by strength in oil shares as well as financials, rallied as the day wore on.
By the close, the Dow Jones Industrial Average was up 106 points to finish the day finally back above 18,000 at 18,004. The S&P 500 was up 13 points to close at 2094. Gold was mostly unchanged to trade near $1233 per ounce, while oil was only down $.50 to trade at $39.86 per barrel WTI.
As Houstonians are aware, we had some enormous storms which dropped an extreme amount of rain that led to massive flooding in the area. We hope to be back in the office tomorrow. Remember, this will be a busy week for corporate earnings, so stay tuned. We’ll keep you up to date.
Stay safe out there.
