Friends
Thanks goodness things are quiet on the political front. We wouldn’t want this amazing market rally to be interrupted by inflammatory headlines or crazy tweets. So far 2018 seems to be an extension of 2017. Stocks continue to climb higher as many Dow components picked up analyst recommendations today and more and more companies are being seen as benefiting from the recently passed tax plan.
By the close, the Dow Jones Industrial Average was up 98 points to finish the day at 24,922. The S&P 500 was up 17 points to close at 2,713. Gold was up $1 to trade at $1,317 per ounce, while oil was up $1.41 to trade at $61.78 per barrel WTI.
Remember, we have an earnings season coming in a couple of weeks, so we’ll soon get a read on whether share prices have gotten a bit extended. Until then, it appears that this market is on a glide path with little in its way. We’ll get a look at the employment situation the next two days, with the ADP number tomorrow and the non-farm payroll number on Friday. Short of some way out of left field number, I’m not sure the market is overly focused on this month’s number, but we’ll see.
Have a nice evening everyone.
