Friends
The bulls got things back on track today, but an early rally in stocks lost a lot of its steam by the close. Bonds continued to be sold and gold just seems to go down every day. Can the bulls make that push to Dow 20,000 in the remaining trading days of 2016? We might have to keep an eye on the bond market to get our clues.
As for today, by the close the Dow Jones Industrial Average was up 59 points to finish the day at 19,852. The S&P 500 was up 8 points to close at 2262. The aforementioned gold was down $33 to trade at $1,130 per ounce, while oil was mostly unchanged, trading at $51.05 per barrel WTI. Nat Gas was down $.0115 to finish trading at $3.425. The yield on the 10 year Treasury Note climbed to 2.60%. Remember, earlier this year the 10 year was well below 1.50%.
Now that the Fed move is behind us, political headlines might be the only thing that throws traders off the Dow 20,000 scent. Let’s see how the week finishes out tomorrow. Next week we can begin to discuss whether a Santa Claus rally will be tacked on to the Trump surge.
Have a nice evening everyone.
