Friends
Wow, what a crazy week. Word that Mr. Putin was willing to “hold talks” with the Ukrainians seemed to be the catalyst for today’s rally as stocks soared higher and were able to hold onto the gains into the close. On Thursday morning things looked as dire as we have seen in a long time, but by Friday afternoon stocks had erased the week’s losses.
By the close, the Dow Jones Industrial Average was up 834 points to finish the day at 34,058. The S&P 500 was up 95 points to close at 4,384. The Nasdaq Composite Index was up 221 points to close at 13,694. Gold was down $34 to trade at $1,891 per ounce, while oil was down $.48 to trade at $92.33 per barrel WTI.
I mentioned that moments like we experienced on Thursday morning, while harrowing, often create long term opportunities. I didn’t expect to see what we just saw the last two trading sessions, but I guess nowadays it’s best to expect the unexpected.
As mentioned this morning, we are going to host a live zoom lunch webcast on Tuesday March 8th at 11:30 AM. We will be discussing current market headlines and conditions. In addition, in the interim we welcome you to send us questions in advance that you would like to see us address. You can simply reply to this email with your questions or add them when registering for the webcast in the link below. We will record the webcast for those who are not able to attend.
Have a great weekend everyone.
