Friends
Stocks recovered some of last week’s losses today, buoyed by the announcement that beleaguered brokerage Robinhood was getting much needed additional financing. With that disaster averted for the time being, market participants decided to do a little buying after some of their favorites had been leveled in last week’s selloff. Hopefully, we can focus on a big week of earnings as this week unfolds.
As for today, by the close the Dow Jones Industrial Average was up 229 points to finish the day at 30,211. The S&P 500 was up 59 points to close at 3,773. The Nasdaq Composite Index was up 332 points to close at 13,403. Gold was up $13 to trade at $1,860 per ounce, while oil was up $1.45 to trade at $53.65 per barrel WTI.
On the earnings front we will hear from Google, Amazon, Pfizer, Merck, AbbVie, Exxon-Mobil, Conoco Phillips, Ebay, Clorox and Amgen as well as many others. So, it will be another busy week for earnings. Whether the GameStop sideshow has run its course, only time will tell. It should be an interesting week.
Have a nice evening everyone.
