Friends
While the northeast endures a viscous snowstorm and cold temperatures, stocks continue to be on fire. Once again, another milestone was achieved (today we crossed the Dow 25,000 mark) and with a strengthening economy, corporate earnings juiced by tax reform, low inflation, elevated consumer confidence, continued low interest rates, the end to this bull market doesn’t appear to be in sight (if that doesn’t kill this rally, nothing will).
Today’s ADP private payroll number was better than expected which tees up tomorrow’s government non-farm payroll number.
As for stocks, by the close the aforementioned Dow Jones Industrial Average was up 152 points to finish the day at 25,075. The S&P 500 was up 10 points to close at 2,723. Gold was up $5 to trade at $1,324 per ounce, while oil was up $.25 to trade at $61.88 per barrel WTI.
The worrisome thing for old guys like me is the level of bullishness that is beginning to permeate the markets. The previously discussed complacency is beginning to turn into something a little more concerning. Ok, I’ll stop worrying for the moment and just enjoy this stunning bull market.
Have a nice evening everyone.
