Friends
It was a very good start to the new month for stocks today. Perhaps more vaccines getting into circulation and the hope that those who want to be vaccinated will be so within the next couple of months, helped stir animal spirits in market participants. Perhaps the fact that the bond market stopped selling off also contributed to today’s enthusiasm from the bulls. Whatever the case may be, stocks moved decisively higher throughout the day and were able to hold onto most of their gains by the close.
For the day, the Dow Jones Industrial Average was up 603 points to close at 31,535. The S&P 500 was up 90 points to finish the day at 3,901. The Nasdaq Composite Index was up 396 points to close at 13,588. Gold was down $8 to trade at $1,720 per ounce, while oil was down $1.30 to trade at $60.20 per barrel WTI.
Today was one where both growth and value did well. Who needs rotation on a day where they want to buy everything? A very interesting start to the month and the week, especially given how strange last week’s trading was. It should be an interesting week. Stay tuned.
Have a nice evening everyone.
