Friends
Stocks seesawed between positive and negative territory during today’s trading session, as traders continue to grasp just what the Trump victory means for different sectors and who will be the winners and who will be the losers. Bonds and gold continued to sell off providing somewhat of a mixed message for market participants to decipher.
By the close, the Dow Jones Industrial Average was up 21 points to finish the day at 18,868. The S&P 500 was down a fraction to close at 2164. Gold was down $4 to trade at $1,219 per ounce, while oil was up $.09 to trade at $43.50 per barrel WTI. Nat Gas was up $.0133 to finish trading at $2.752.
Once again, deciding the winners and losers from the election fallout appears to be the main order of business with banks and industrials gaining strength, while technology, utilities and staples continue to show weakness. Things are moving quickly at the moment, and what might look good now may not look good in short order. The moves are somewhat dramatic, but that should lessen over the next few weeks and months. Let’s see how this week goes given last week’s strong showing for many stocks.
Have a nice evening everyone.
