Friends
After a frantic week, the bulls seemed a little out of gas as today’s trading session unfolded. But in the end, they were able to post modest gains in the market averages. Bond yields continue to move lower but this move has been fierce in the last week or two so I would expect a bit of a pullback in bond prices somewhere along the way here.
As for today, by the close the Dow Jones Industrial Average was up 56 points to finish the day at 37,305. The S&P 500 was basically flat closing at 4,719. The Nasdaq Composite Index was up 52 points to close at 14,813. Gold was down $11 to trade at $2,033 per ounce, while oil was up $.04 to $71.62 per barrel WTI.
Again, this has been a very impressive rally over the past several weeks. Will the bulls be able to continue to push into year end? There doesn’t appear to be anything to stop them at the moment with the Fed meeting behind us as well as jobs and inflation data. For now, the bulls hold the high ground. Here comes Santa Claus, here comes Santa Claus, right down Santa Claus Lane.
Have a great weekend everyone.
