Friends
It was another good day for stocks. Market participants have had an amazing ability to look past current issues and continue to be focused on what they believe could be a nice economic rebound in the second half of 2021. Interest rates are moving up in sympathy with that belief as there might actually be some inflation as the rebound unfolds (as opposed to the inflation we have seen in financial assets for more than a decade).
As for today, by the close the Dow Jones Industrial Average was up 211 points to finish the day at 31,041. The S&P 500 was up 55 points to close at 3,803. The Nasdaq Composite Index was up 326 points to close at 13,067. Gold was up $7 to trade at $1,915 per ounce, while oil was up $.35 to trade at $50.98 per barrel WTI.
It’s been quite a first week of 2021, both in the markets and in the news. Hopefully, it’s just a small slice left over from 2020 and we are going to move forward with a little more clarity and civility in the coming weeks and months. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
