Friends
As expected, the day after Christmas trading was light and the markets were mostly quiet other than a little spike in oil prices. Stocks simply meandered mostly in negative territory for the day, as there was nothing new for traders to chew on with regards to the fiscal cliff.
For the day, the Dow Jones Industrial Average was down 24 points to close at 13,114 . The S&P 500 was down 6 points to finish the day at 1419. Gold was up $1 to trade at $1660 per ounce while oil, as I previously mention, was up $2.47 to trade at $91.08 per barrel WTI.
We have two more days to trade for the week, and just three more trading days left in the year. It’s hard to believe that a fiscal cliff deal is going to be done before the end of the year, but perhaps a watered down version will act as a band aid in the short run. We will see.
I hope everyone had a great Christmas.
Have a nice evening everyone.
