Friends
It was a little sloppy, but when all was said and done it was a pretty good day for stocks. Retailers in general had a good showing led by Walmart and their enormous stock buyback announcement. The pattern has been when retailers go up then Amazon goes down and vice versa. This year, Amazon has been on the better side of that trade more often than not.
By the close, the Dow Jones Industrial Average was up 69 points to finish the day at 22,830. The S&P 500 was up 5 points to close at 2,550. Gold was up $5 to trade at $1,290 per ounce, while oil was up $1.34 to trade at $50.94 per barrel WTI.
Volatility was quiet and has been for several days now as market participants ready themselves for the coming earnings onslaught. We’ll keep score for you as earnings season kicks off with the banks later in the week. Stay tuned. Look for our 4th quarter quarterly outlook in your box this week also.
Have a nice evening everyone
Stay Strong Houston
Go Astros
