Friends
The bulls were able to crank up a little rally music today, but it did seem somewhat half-hearted. Despite the push higher stocks are still down nearly 20% as measured by the S&P 500 and nearly 34% as measured by the Nasdaq year-to-date. Bonds are also down nearly 15% for the year as measured by the Vanguard Total Bond Market Index Fund ETF. So, the bulls just don’t have enough time to save 2022.
As for today, by the close the Dow Jones Industrial Average was up 345 points to finish the day at 33,221. The S&P 500 was up 66 points to close at 3,849. The Nasdaq Composite Index was up 264 points to close at 10,478. Gold was up $6 to trade at $1,822 per ounce, while oil was down $.56 to trade at $78.40 per ounce.
One more trading session to go in 2022 and then we can literally turn the page. Let’s see if the bulls can at least end the year on a high note. Stay tuned, we’ll let you know how the year finishes out.
Have a nice evening everyone.
