Friends
While impeachment and phone call transcripts were occupying the headlines, stocks reversed an initial selloff to post nice gains, as market participants are seemingly becoming numb to political machinations. Obviously, no one knows for sure what the results of impeachment proceedings will be, but I’m guessing you know where we stand on the hold situation – we will not let this interfere with our long term investment plan. Headlines and tweets will be flying for months, so yes we will be enduring volatility, but we will not be distracted.
As for today, by the close the Dow Jones Industrial Average was up 162 points to finish the day at 26,970. The S&P 500 was up 18 points to close at 2,984. Gold was down $28 to trade at $1,511 per ounce, while oil was down $.80 to trade at $56.49 per barrel WTI.
It will be nice when we can talk about earnings and economic activity again someday. In the meantime, as I mentioned yesterday, we’ll keep you updated on all the headlines and tweets (for entertainment purposes only) while we wait for earnings season to start in a couple of weeks. Stay with us.
Have a nice evening everyone.
