Friends
The Thanksgiving holiday is behind us, but the markets looked like they were still a little stuffed from too much turkey. Stocks opened a little lower but basically drifted along for the entire trading session. Traders are trying to determine if we are due for a mad dash higher into the end of the year or, after a huge November move, will stocks hit a wall as Santa warms up his sleigh. We will see.
As for today, by the close the Dow Jones Industrial Average was down 56 points to finish the day at 35,333. The S&P 500 was down 8 points to close at 4,550. The Nasdaq Composite Index was down 9 points to close at 14,241. Gold was up $10 to trade at $2,013 per ounce, while oil was down $.65 to trade at $74.89 per barrel WTI.
After black Friday and Cyber Monday, analysts will be focused on retailers as the Christmas Season unfolds. One might expect that the consumer is running out of dry powder after a couple of years of heavy spending but it hasn’t seemed to happen up to this point at least. Stay tuned, we’ll let you know how the week unfolds.
Have a nice evening everyone.
