Stocks had a quiet but profitable day for the bulls. Hoping that the most recent data on the coronavirus is beginning to show a positive trend, buyers were ready to step in at the open this morning, but the rally was somewhat muted and unenthused. Nevertheless, despite more and more evidence of the economic effects of the virus on global growth, traders remain optimistic for the most part.
By the close, the Dow Jones Industrial Average was up 115 points to finish the day at 29,348. The S&P 500 was up 15 points to close at 3,386. Gold was up $8 to trade at $1,612 per ounce, while oil was up $1.22 to trade at $53.27 per barrel WTI.
It appears we will continue to see a tug of war between the optimist and the pessimist with regards to the virus, but overall the bulls still seem firmly in control of the situation. Let’s see what tomorrow has in store for us. Stay tuned.
Have a nice evening everyone.