Friends
This morning’s inflation data came in as expected so there wasn’t much of a reaction to the numbers. Actually, it was a day where the sellers seemed to run out of gas, so the buyers stepped in and moved stocks higher. Even the Nasdaq recovered much of its early damage by the close, and finally the recently beleaguered Dow had a nice move higher.
For the day, the Dow Jones Industrial Average was up 574 points to close at 38,686. The S&P 500 was up 42 points to close at 5,277. The Nasdaq Composite Index was down 2 points to close at 16,735. Gold was down $22 to trade at $2,344 per ounce, while oil was down $.83 to trade at $77.08 per barrel WTI.
It was a sloppy week for the markets but in the end, stocks were higher in May. It will be interesting to see where things go over the coming weeks as we find ourselves entering the dog days of summer and preparing for what is sure to be an interesting political season. We will be here to keep you informed as it all unfolds. Stay tuned.
Have a nice weekend everyone.
