Friends
I hope everyone had a nice Christmas. The markets continue to be extremely quiet as we head towards the year end. There was virtually no action of any sort today. Trading was light and volatility was nonexistent. On the economic front the consumer confidence number for December was even better than expected. The consumer appears to be on board, but we’ll find out soon enough just how and where they have been spending their holiday money.
For the day, the Dow Jones Industrial Average was up 15 points to close at 19,949. The S&P 500 was up 5 points to finish the day at 2268. Gold was up $6 to trade at $1,140 per ounce, while oil was up $.84 to trade at $53.86 per barrel WTI. Nat Gas was up $.08 to finish trading at $3.742.
It surely appears that not a lot will happen until Friday, when we might see some year-end rebalancing. Until then, it appears that traders have wrapped things up for the year, and are willing to wait until next week to take any stands. We’ll let you know if anything happens this week.
Have a nice evening everyone.
Jim
