riends
Like yesterday, despite good earnings from a couple of retailers, namely Target and TJ Maxx, stocks struggled later in the trading session. Pfizer updated the efficacy number for their Covid-19 vaccine to 95%, but cases of the virus continue to explode and shut downs are once again occurring (New York City closing schools temporarily once again). So, despite great vaccine news, the bridge that crosses the river Covid-19 is still filled with obstacles that will have to be navigated for us to get to the other side.
As mentioned, stocks struggled again today as for the day the Dow Jones Industrial Average was down 344 points to close at 29,438. The S&P 500 was down 41 points to finish the day at 3,567. The Nasdaq Composite Index was down 97 points to close at 11,801. Gold was down $15 to trade at $1,869 per ounce, while oil was up $.28 to trade at $41.71 per barrel WTI.
As mentioned, despite the optimism about the long run, the virus is causing a lot of concerns in the short run. Retail numbers have been pretty good. Housing numbers have been real good. So, there are things that have been improving economically, but still so many are hurting and losing their business or their job. Yes, we are encouraged by the pharmaceutical community and science, but we still have a long road ahead.
Have a nice evening everyone.
