Friends
Stocks finished up another very good week with a rally that picked up steam as the trading session wore on. There just seems to be more and more money coming into the market, sucking up new issues, SPACs and add-on stock offerings. It is very impressive to see the market averages posting new highs on a daily basis.
As for today, by the close the Dow Jones Industrial Average was up 297 points to finish the day at 33,800. The S&P 500 was up 31 points to close at 4,128. The Nasdaq Composite Index was up 70 points to close at 13,900. Gold was down $14 to trade at $1,743 per ounce, while oil was down $.23 to trade at $59.37 per barrel WTI.
As mentioned, it was another very good week for stocks. Even today’s hot PPI number couldn’t temper the enthusiasm of market participants. The bulls are in charge, and the beleaguered bears must feel like a freight train is rolling over them.
Have a great weekend everyone.
