Friends
An improved weekly jobless claims number helped lift stocks in early trading, and the averages were able to hang on to the gains for the remainder of the session. As we mentioned, it was going to be a quiet news week until Friday, so we expect tomorrow’s action will be dictated by corporate earnings reports and economic news.
As for today, the Dow Jones Industrial Average was up 62 points to close at 14,865. The S&P 500 was up 5 points to finish the day at 1593. Gold was up $1 to trade at $1559 per ounce, while oil was down $1.21 to trade at $93.43 per barrel. Both the Dow and the S&P posted new highs.
Tomorrow, we get earnings reports from both JP Morgan Chase and Wells Fargo. On the economic front we get the PPI report as well as retail sales, business inventories and consumer sentiment. That will give traders plenty to chew on.
Have a nice evening everyone.
