Friends
Stocks recovered some from yesterdays thumping, but it was hardly convincing. It appeared that there might be some follow through from yesterday’s selling pressure, but buyers stepped in early in the trading session and began to buy some of the beaten down tech and financial shares. The political headlines continue to swirl and it is almost useless to try to decipher and respond to each and every one of them, but are the markets going to be able to separate themselves from headline risk as we go forward?
By the close, the Dow Jones Industrial Average was up 56 points to finish the day at 20,663. The S&P 500 was up 8 points to close at 2,365. Gold was down $9 to trade at $1,249, while oil was up $.26 to trade at $49.33 per barrel WTI.
It will be interesting to see how the week finishes out tomorrow. Will the bulls have enough gumption to step in and buy before the weekend, or will the bears be able to wrestle back control of the situation and continue to play on the political uncertainty that seemed to hit new highs this week? Stay tuned, we’ll let you know how the week ends.
Have a nice evening everyone.
