Friends
The markets traded today like a typical Friday in the middle of August. There wasn’t much movement in either direction as the bulls seemed content to sit with record gains, while the bears are still looking for an opening.
For the day, the Dow Jones Industrial Average was up 16 points to close at 35,515. The S&P 500 was up 7 points to finish the day at 4,468. The Nasdaq Composite Index was up 6 points to close at 14,822. Gold was up $27 to trade at $1,778 per ounce, while oil was down $1.04 to trade at $68.05 per barrel WTI.
It was a good week for stocks, especially given that August is seasonally often difficult for stocks. As we move into the second half of the month we will be monitoring the Covid19 situation as well as smoke signals from the Fed that indicate just when the tapering process (asset purchase reductions) will begin. In the meantime, stocks are at all-time highs.
Have a great weekend everyone.
