Friends
We have had a somewhat up and down week with the market averages moving higher today after yesterday’s weakness. Stocks seem to settle down when rates stop going down and move back up a bit as we saw today. Yes, we know that low interest rates have been good for stocks for years now, but the freefall in rates during the economic recovery has had market participants wondering if there is another type of shoe to drop.
As for today, by the close the Dow Jones Industrial Average was up 271 points to finish the day at 35,064. The S&P 500 was up 26 points to close at 4,429. The Nasdaq Composite Index was up 114 points to close at 14,895. Gold was down $7 to trade at $1,807 per ounce, while oil was up $.95 to trade at $69.10 per barrel WTI.
Remember, the non-farm payroll number comes out before the open tomorrow. After yesterday’s disappointing ADP private payroll number investors will be interested to see how the jobs market is faring at the moment, from the government’s data. Let’s see how the week ends tomorrow.
Have a nice evening everyone.
