Friends
As expected, today’s half day of trading was very light. Stocks did have a bias to the upside all morning fueled by a better than expected factory order number. After an advance of almost 70 Dow points, stocks faded a bit but rallied again into the close and for the day the Dow Jones Industrial Average was up 72 points to finish the day at 12,943. The S&P 500 was up 8 points to close at 1374. Gold was up $24 to finish trading near $1622 per ounce, and oil was up $3.73 to trade at $87.49 per barrel WTI. Oil has rocketed back up $10 per barrel in the last few trading days.
Well, we go into the 4th of July holiday with the S&P 500 surprisingly at 1374. This latest move really caught traders by surprise (as the market typically will do), as they were definitely leaning negative going into the EU summit last week. We’ll see how things unfold with the employment numbers later in the week, but for today, the bulls hold the high ground.
Everyone have a wonderful 4th of July holiday and be safe. We’ll talk to you on Thursday.
