Friends
Despite another disappointing and actually quite disturbing weekly jobless claims number, stocks once again pushed higher. Again, we are hearing that a stimulus deal is in the works, and that is likely continuing to be a tailwind for stocks. So, not surprisingly during a period that is typically good for stocks, and during a year that has also been good for stocks, we appear to be able to continue to move higher as we reach the finish line for 2020. Of course, we’ll see if investors decide to sell the news if the stimulus package actually gets done.
As for today, by the close the Dow Jones Industrial Average was up 148 points to finish the day at 30,303. The S&P 500 was up 21 points to close at 3,722. The Nasdaq Composite Index was up 106 points to close at 12,764. Gold was up $30 to trade at $1,889 per ounce, while oil was up $.56 to trade at $48.39 per barrel WTI.
Despite the disappointing employment news, housing news continues to be strong. It’s been a very strange economic year with very conflicting data. Well, anyway, let’s see how this week finishes out tomorrow.
Have a nice evening everyone.
