Friends
It has been quite a roller coaster ride for stocks in December. Today we got a nice rally after yesterday’s selloff to somewhat square things for the week so far. We have pointed out the headwinds that the markets are facing as we finish out the year and those headwinds didn’t all of a sudden disappear today. As a matter of fact the Omicron variant is spreading amazingly fast. The question is will investors look past current issues at the moment and move stocks higher into the new year? We will see.
As for today, by the close the Dow Jones Industrial Average was up 560 points to finish the day at 35,492. The S&P 500 was up 81 points to close at 4,649. The Nasdaq Composite Index was up 360 points to close at 15,341. Gold was down $6 to trade at $1,788 per ounce, while oil was up $2.76 to trade at $71.37 per barrel WTI.
Maybe the little guy in the red suit has found a reindeer who can cut through all of those storm clouds and headwinds. Hopefully that’s the red light market participants see coming.
Have a nice evening everyone.
