Friends
It was a somewhat quiet day of trading until the bulls got involved in the final hour of the session. The long bond was also rather quiet which allowed the beleaguered Nasdaq to regroup and show some life.
For the day, the Dow Jones Industrial Average was up 174 points to finish the day at 32,953. The S&P 500 was up 25 points to close at 3,968. The Nasdaq Composite Index was up 139 points to close at 13,459. Gold was up $10 to trade at $1,729 per ounce, while oil was down $.26 to trade at $65.35 per barrel WTI.
Talk about fiscal stimulus. The ink isn’t even dry on the $1.9 trillion dollar “Covid” bill and we are already hearing talk about a robust infrastructure bill tied to some new taxes. The economy is going to be getting a lot of punch poured into its punch bowl. Should be good for Main Street in the near future. As we have mentioned before, the question will be has Wall Street already priced in the good news?
It’s been a century or so since we have emerged from a pandemic, so we are is somewhat uncharted territories. Let’s see how this week progresses. Stay tuned.
Have a nice evening everyone.
