Friends
Market participants appeared to be distracted by the inauguration proceedings as stocks, after an early lift, basically just drifted aimlessly for the balance of the trading session. We did get a second little lift at the close, so stocks ended with nice gains. Earnings are hitting the wires in earnest now, with mainly good results, but traders simply appear distracted by the political theater, which is fascinating to say the least.
By the close, the Dow Jones Industrial was up 94 points to finish the day at 19,827. The S&P 500 was up 7 points to close at 2271. Gold was up $7 to trade at $1,208 per ounce, while oil was up $1.05 to trade at $52.33 per barrel WTI.
When we get after it on Monday, hopefully we can refocus on economics and earnings. Politics have dominated the news cycle and certainly have been an influence on the markets. We surely will be dealing with politics as we go forward, but at least the transition will be behind us.
Have a great weekend everyone.
