A Little Bounce Back

Friends

Stocks did recover a bit of yesterday’s bludgeoning, and by the close were able to post a decent gain, after a lot of volatility. Yesterday’s worries about the virus rearing its ugly head again seemed to be dampened by an article in the Wall Street Journal pointing out some of the flaws if the data that had been circulating. Whatever the case, this market has for the past 4 months moved on Fed liquidity and medical news. The Fed liquidity is a known for now. The medical situation, whether a spike in cases or the news of therapeutics and vaccines, though encouraging, is still very uncertain.

As for today, by the close the Dow Jones Industrial Average was up 477 points to finish the day at 25,605. The S&P 500 was up 39 points to close at 3,041. Gold was down $1 to trade at $1,738 per ounce, while oil was up $.04 to trade at $36.38 per barrel WTI.

It was a wild week for stocks with bookend up days on Monday and Friday, and a huge drop Tuesday thru Thursday. Quite a ride. Let’s enjoy the weekend and get back at it on Monday.

Have a great weekend everyone.

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