Friends
Stocks continued last week’s winning streak as the market averages rallied from the opening bell and held onto the gains throughout the trading session. Encouraging news about Covid-19 numbers as well as vaccine distribution seemed to help set the tone for higher prices. We have one more big week of earnings releases ahead with the likes of Goodyear, Cisco, Carrier, DuPont, Coca-Cola, Kraft Heinz, Kellogg and Disney all reporting.
As for today, by the close the Dow Jones Industrial Average was up 237 points to finish the day at 31,385. The S&P 500 was up 28 points to close at 3,915. The Nasdaq Composite Index was up 131 points to close at 13,987. Gold was up $20 to trade at $1,833 per ounce, while oil was up $1.14 to trade at $57.98 per barrel WTI.
The bulls continue to charge and the bears have to be feeling a massive amount of frustration. It looked like the GameStop silliness was going to derail things for a while but the general market shrugged all that nonsense off and refocused on government stimulus and the hope for a grand global reopening in the second half of 2021. Let’s hope that all of this enthusiasm is warranted. We will see.
Have a nice evening everyone.
