Friends
It was another spirited trading session for the bulls as even hawkish comments from a Fed President could dampen the enthusiasm. I asked yesterday if investors were becoming more comfortable with the whole idea of higher interest rates. Of course, the bears might say investors are becoming “complacent”. Nevertheless, we know the Fed is going to start raising interest rates as soon as next month, and market participants appear to be dealing with it.
As for today, by the close the Dow Jones Industrial Average was up 305 points to finish the day at 35,768. The S&P 500 was up 65 points to close at 4,587. The Nasdaq Composite Index was up 295 points to close at 14,490. Gold was up $5 to trade at $1,833 per ounce, while oil was up $.70 to trade at $90.06 per barrel WTI.
Remember, we get a look at the Consumer Price Index tomorrow. That has been an alarming number for several months now, so let’s see how the markets react to tomorrow’s release. In the meantime, surprisingly enough, the bulls appear to be holding the high ground at the moment.
Have a nice evening everyone.
