Friends
Well, that was different and unexpected. After days of lackluster interest in stocks, the bulls awakened and drove prices higher today with some spirited bidding. Other than an oil market that was a bit stronger today, I’m not sure what was different today than recent days, but for some reason the risk taking juices were flowing. Stocks rocketed higher from the open and added to their gains as the day went on.
By the close, the Dow Jones Industrial Average was up 222 points to finish the day at 17,928. The S&P 500 was up 25 points to close at 2084. Gold was up $1 to trade at $1,268 per ounce, while the aforementioned oil was up $1.26 to trade at $44.70 per barrel WTI.
This was the best day for the bulls in quite some time. Will it prove to be an aberration, or will it be the beginning of something positive for the bulls to build on? We will see, of course, but perhaps as earnings season is behind us and the economic calendar is somewhat quiet, a void is created that allows stocks to move without much reasoning – in either direction. It will be interesting to see if the gains are extended tomorrow. Stay tuned.
Have a nice evening everyone.
