Well, February started out pretty much how January ended, only with a happier ending, at least for today. Yes, volatility continues as the Dow sported both a triple digit gain and triple digit loss throughout the trading session. By the close, the bulls found themselves holding the high ground as buyers bid up shares into the final bell.
When the dust settled, the Dow Jones Industrial Average was sporting a 196 point gain to close at 17,361. The S&P 500 was up 25 points to finish the day at 2020. Gold was down $4.00 to trade at $1275 per ounce, while oil was up $1.56 to trade at $49.80 per barrel WTI.
Earnings are still in the forefront as they were last week, but we also have a full week of economic news including today’s slightly weak ISM Manufacturing number. As the week unfolds we’ll see Factory Orders, the ADP Employment report, weekly jobless claims, and of course the all-important non-farm payroll number on Friday. Let’s see if February can get off to a good start and build on today’s gains.
Have a nice evening everyone.