Friends
So much for a quiet week. Yes, trading was somewhat light, but the bulls were out in force right from the opening bell, and all the way until the end of the trading session. On the economic front both the Case-Shiller housing price index and the consumer confidence numbers were both good, but today’s action seemed to be more of a case of the tax loss sellers finally about done for the year, giving the bulls a chance to play on a somewhat empty playing field.
By the close, the Dow Jones Industrial Average was up 192 points to finish the day at 17,720. The S&P 500 was up 21 points to close at 2078. Gold was down just a fraction to trade at $1067 per ounce, while oil was up $1.03 to trade at 37.84 per barrel WTI.
As of today’s close, the S&P 500 is slightly up for the year (a little better when you add in dividends), while the Dow is still sporting a slight loss for the year. Let’s see if the bulls have anything left in them with 2 more days of trading. This week, into next week, is officially the period for the Santa Clause rally. Maybe Santa left us an extra present this year.
Have a nice evening everyone.
