Friends
Once again, the Dow led the market averages higher during today’s trading session. And once again it was financials and industrials leading the way higher instead of big tech. We always like to see a broadening out of an advance where more than just a few names lead the market averages higher. That has been the case this week for stocks.
As for today, by the close the Dow Jones Industrial Average was up 426 points to finish the day at 44,296. The S&P 500 was up 20 points to close at 5,969. The Nasdaq Composite Index was up 31 points to close at 19,003. Gold was up $34 to trade at $2,708 per ounce, while oil was up $1.03 to trade at $71.13 per barrel WTI.
As has been the case throughout 2024 the bulls occupy the high ground. The bears have had a few moments here and there during the year, but any moves lower have quickly been bought. We will have a bear market again at some point, but it appears that between now and the end of the year the bulls have the momentum. Of course, with markets it’s always best to be prepared for the unexpected. Anyway…
Have a great weekend everyone.
Jim
