Friends
Stocks got off to a good start for the week, but not as good as it might have been. By mid-morning, the Dow was sporting a flashy 400 point gain, but as the afternoon wore on stocks gave up more and more of those gains. The cause of the early rally seemed to be relief that nothing ratcheted up over the weekend regarding trade wars with China. The last minute sell off seems to stem from reports of the FBI visiting President Trump’s lawyer.
Anyway, by the close the Dow Jones Industrial Average was up 46 points to finish the day at 23,979. The S&P 500 was up 8 points to close at 2,613. Gold was up $3 to trade at $1,339 per ounce, while oil was up $1.27 to trade at $63.33 per barrel WTI.
Yes, we’ll be dealing with headlines (we always are dealing with headlines these days), but at least we have corporate earnings coming up over the next several weeks. We don’t expect first quarter GDP to be very good, but we do expect first quarter earnings to be pretty darn good. Of course we will see. Let’s see how markets trade before earnings season kicks off at the end of the week.
Have a nice evening everyone.
