Deal Spurs Stocks?


Stocks meandered in positive territory for most of today’s trading session, then this afternoon when news of the pending deal with Iran hit the tape, stocks rallied a bit more as oil prices fell. Yes, there seems to be some kind of cockamamie nuclear deal our government leaders have struck with our friends the Iranians, which will potentially lift sanctions against Iran and allow them to export more oil. Of course, we don’t get political here at CHJ, so we’ll just move on and wait for tomorrow’s jobs report.

For the day, the Dow Jones Industrial Average was up 65 points to close at 17,763. The S&P 500 was up 7 points to finish the day at 2066. Gold was down $7 to trade at $1201 per ounce, while oil was down $.54 to trade at $49.55 per barrel WTI.

Today’s jobless claims number was the lowest we have seen in a long time, and much better than expected, so let’s see how tomorrow’s non-farm payroll number looks. Remember, the markets are closed tomorrow for Good Friday, so we’ll be back with you on Monday.

Have a wonderful Easter everyone.

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