Friends
The bulls stepped up today in an attempt to take the reins back from the bears after the sloppiness of the last couple of weeks. Stocks opened higher and were able to hold onto the gains for the entire trading session. Actually, after the initial surge at the open, there was very little volatility as prices simply edged slightly higher as the trading session wore on.
By the close, the Dow Jones Industrial Average was up 327 points to finish the day at 27,993. The S&P was up 42 points to close at 3,383. The Nasdaq Composite Index was up 203 points to close at 11,056. Gold was up $19 to trade at $1,967 per ounce, while oil was down $.01 to trade at $37.32 per barrel WTI.
It will be interesting to see if the volatility has abated and now we work our way back up towards the previous highs, or will the bears regroup and throw a wet blanket on the proceedings. We continue to get healthcare/Covid19 headlines on a daily basis, but the next earnings season is a month away, and the election right after that. So, we might have a bit of void to trade through over the next few weeks. Could be interesting. Stay tuned.
Have a nice evening everyone.
