More rumors that various trade negotiations, including with Mexico, might be moving forward once again helped stocks add to yesterday’s gains. Stocks were slightly weaker at the opening, but moved higher in the afternoon portion of the trading session.
By the close, the Dow Jones Industrial Average was up 110 points to finish the day at 25,669. The S&P 500 was up 9 points to close at 2,850. Gold was up $5 to trade at $1,189 per ounce, while oil was up $.41 to trade at $65.86 per barrel WTI.
After all was said and done, the bulls end the week with the upper hand. The bears had their moments this week, but they just can’t seem to do the type of damage that will leave a scar. The S&P ends the week still about 1% below the all-time January highs. Will the bulls finally break out above that pesky resistance level, or will they fail only to see us return toward the middle of this year’s trading range. Let’s see what next week has in store for us.
Have a great weekend everyone.