Friends
The back and forth continues as stocks moved smartly higher today, helped by lower oil prices, despite the sluggish session we saw yesterday. It still feels like the bulls are comfortably entrenched on the high ground, but the bears continue to probe their lines seemingly every other day. We are moving into an earnings season which will surely affect stock prices in the coming weeks, but first we have a CPI number on Thursday to deal with.
In the meantime, for the day the Dow Jones Industrial Average was up 126 points to close at 42,080. The S&P 500 was up 55 points to finish the day at 5,751. The Nasdaq Composite Index was up 259 points to close at 18,182. Gold was down $29 to trade at $2,637 per ounce, while oil was down $3.20 to trade at $73.94 per barrel WTI.
Again, we enter this upcoming earnings season with the market averages near all-time highs. So, the bar is raised for Corporate America and share price reaction to earnings releases will likely be varied, depending a lot on how a company’s shares have fared recently going into earnings. It should be an interesting next few weeks.
Have a nice evening everyone.
