Friends
Despite more global tensions, today sparked by a downed Russian fighter jet by Turkish forces, stocks once again showed remarkable resiliency. After being down more than 100 Dow points, stock reversed course and spent the afternoon slightly in positive territory. As expected the 3rd quarter GDP number was revised upward to 2.1%, which confirms that the U. S. economy continues to grow, but at a tepid pace.
As for stocks, by the close the Dow Jones Industrial Average was up 19 points to finish the day at 17,812. The S&P 500 was up 2 points to close at 2089. Gold was up $7 to trade at $1074 per ounce, while oil was up $1.14 to trade at $42.89 per barrel WTI.
As expected, not much ground given by either party, the bulls or the bears, as even today’s global uneasiness couldn’t break the stalemate. Let’s see if we go quietly into Thanksgiving tomorrow.
Have a nice evening everyone.
