Friends
It appears that the bulls were able to recapture the rally that they were so rudely deprived of yesterday, as share prices stretched further and further into positive territory as the trading session wore on. No, we did not have a terrorist scare at a soccer match to derail things today. Not even the somewhat “hawkish” Fed minutes could slow today’s advance (maybe the hawkish Fed minutes actually helped).
By the close, the Dow Jones Industrial Average was up 247 points to finish the day at 17,737. The S&P 500 was up 33 points to close at 2083. Gold was up $1 to trade at $1070 per barrel, while oil was up $.09 to trade at $40.75 per barrel WTI.
Last week’s stock price devastation seems to be a distant memory as traders seem to be scrambling to get longer as the year end is coming towards them at a rapid pace. We’ll get the weekly jobless claims tomorrow, along with the Philly Fed and leading indicators. Let’s see if the bulls can keep the buying stampede going. Stay tuned.
Have a nice evening everyone.
