It was a quiet, non-descript session for most of the day, but the bulls did press the action just a bit in the final hour of trading. Earnings releases are the main story this week with Microsoft and Tesla after the close today. So far, stock reaction to earnings at least has not been negative.
As for today, the Dow Jones Industrial Average was up 165 points to close at 27,005. The S&P 500 was up 18 points to finish the day at 3,276. Gold was up $24 to trade at $1,868 per ounce, while oil was down $.10 to trade at $41.82 per barrel WTI.
Medical news doesn’t seem to be much of an additional catalyst in recent days as the schedule for vaccines is mostly known now. So, unless there is some surprising news on the Covid-19 front, it appears that earnings, additional aid from Congress and Chinese tensions are the lead stories at the moment. As mentioned, earnings have been acceptable to this point, given all that was known coming in to earnings season. Let’s see if that continues.
Have a nice evening everyone.