Friends
It appears for the moment that the Russians are holding off/reconsidering their potential engagement with Ukraine. That helped take some tension out of the stock market and shave a few dollars off of oil prices. This morning’s PPI number was hotter than expected, but it seems the Russian affair was the more immediate concern for market participants.
As for today, by the close the Dow Jones Industrial Average was up 422 points to finish the day at 34,988. The S&P 500 was up 69 points to close at 4,471. The Nasdaq Composite Index was up 348 points to close at 14,139. Gold was down $14 to trade at $1,854 per ounce, while oil was down $3.50 to trade at $91.98 per barrel WTI.
We get a look at retail sales tomorrow, but at least for today the easing of global tensions gave the bulls a win. Let’s see what tomorrow looks like. Stay tuned.
Have a nice evening everyone.
