Friends
More solid corporate earnings, including a blockbuster report from Netflix, helped move the market averages higher once again today. Other nice earnings gainers were P&G and Travelers. Again, we are expecting good numbers from most of corporate America but what we are most interested in is the share price reaction.
As for today, by the close the Dow Jones Industrial Average was up 130 points to finish the day at 44,156. The S&P 500 was up 37 points to close at 6,086. The Nasdaq Composite Index was up 252 points to close at 20,009. Gold was up $8 to trade at $2,767 per ounce, while oil was down $.35 to trade at $75.48 per barrel WTI.
Stocks kind of ran out of gas near the end of the day so it will be interesting to see if the bulls can keep up the momentum for the rest of the week. In the meantime, we will continue to ascertain whether stocks were overpriced or not going into this current earnings season.
Have a nice evening everyone.
Jim
