Friends
After last week’s unmitigated disaster in the stock market, it appeared the bulls had organized their shopping list and were poised to do some buying this morning as trading began. Indeed, stocks saw a robust opening as the Dow climbed more than 150 points, but as the trading session wore on, falling commodity prices wore on stocks and the bulls did all they could just to hold on to modest gains during the latter part of the trading session. But a nice surge in the final minutes of trading made things feel better for the weary bulls.
By the close, the Dow Jones Industrial Average was up 122 points to finish the day at 17,251. The S&P 500 was up 15 points to close at 2021. Gold was up $12.90 to trade at $1077 per ounce, while oil was virtually unchanged to trade at $34.66 per barrel WTI.
Between now and the end of the year, we’ll discuss what all transpired in the markets this year, and the fact that despite the market averages fighting to break even, there has been quite a bear market below the surface. We’ll explore that reality in the next few days.
Have a nice evening everyone.
