It was a quiet day of trading in what should be a quiet week of trading. Markets are closed Thursday for Thanksgiving Day and then Friday is only a half day of trading. The only reason they open the market for a half day of trading on Friday is an archaic rule that the NYSE can’t be closed for 4 days in a row. Whatever the case, this is typically a slow week. On the economic front, we get existing home sales tomorrow and then durable goods, consumer sentiment and weekly jobless claims on Wednesday. Other than that, maybe the politicians can entertain us.
For the day, the Dow Jones Industrial Average was up 72 points to close at 23,430. The S&P 500 was up 3 points to finish the day at 2,582. Gold was down $19 to trade at $1,277 per ounce, while oil was down $.46 to trade at $56.23 per barrel WTI.
With holiday season upon us, we are quickly approaching the end of the year. Will the bears be able to finally stall the bulls advance as we move towards the finish line? Well, let’s get past this week first.
Have a nice evening everyone.