Stocks rallied today on some decent corporate earnings reports and a positive JOLTS report (improved job openings), as the bulls attempt to get February back on track. Volatility was light as the market averages spent most of the session at higher levels, despite the fact that oil prices moved back down after yesterday’s rally.
By the close, the Dow Jones Industrial Average was up 139 points to finish the day at 17,868. The S&P 500 was up 21 points to close at 2068. Gold was down $7 to trade at $1234 per ounce, while oil was down $2.35 to trade at $50.51 per barrel WTI.
It will be interesting to see if the bulls can take advantage of a quiet week in terms of economic data and the winding down of earnings season. The bears continue to be frustrated by lack of any follow through on down moves. Of course, we always have to keep an eye on the Greece situation. Stay tuned.
Have a nice evening everyone.