Friends
More hope for an “interim” stimulus deal seemed to keep stocks in the green for most of the trading session, though late news that Pfizer is facing some supply chain issues for its vaccine did take some wind out of the bulls’ sails. What continues to be encouraging is the broadening out of the winners. Early in the advance from the March lows, it was just a handful of names that moved the market averages (Apple, Amazon, Facebook, etc.) But, over the past weeks we have seen those leaders hold their gains while previous laggards lead the way to new highs. If you are a bull, that is a good thing.
As for today, by the close the Dow Jones Industrial Average was up 85 points to finish the day at 29,969. The S&P 500 was down 2 points to close at 3,666. The Nasdaq Composite Index was up 27 points to close at 12,377. Gold was up $14 to trade at $1,844 per ounce, while oil was up $.24 to trade at $45.52 per barrel WTI.
It’s been a decent week for stocks, though somewhat unconvincing. Let’s see how things finish out tomorrow.
Have a nice evening everyone.
