Friends
The bulls tried to end the week on a good note and were able to push the Dow into positive territory, but the weakness in the crypto currency world seemed to cast a little gloom, once again onto the playing field. Again, the only reason I mention the crypto currency situation is that is has been quite talked about and sizable, so investors who own a lot of these currencies feel a little bit poorer on these days. Those feelings can spill into other asset classes like stocks, so there does seem to be little bit of a contagion effect going on.
Anyway, by the close the Dow Jones Industrial Average was up 123 points to finish the day at 34,207. The S&P 500 was down 3 points to close at 4,155. The Nasdaq Composite Index was down 64 points to close at 13,470. Gold was down $1 to trade at $1,880 per ounce, while oil was up $1.92 to trade at $63.89 per barrel WTI.
The markets have been a little more suspect lately where even good earnings reports are met with mixed results. But, if this is as bad as it gets after the tremendous move we had over a 12 month period from April 2020 to April 2021, then the bulls should be grateful. Let’s see where it all leads next week.
Have a great weekend everyone.
