Overnight futures gave the impression that stocks were going to have a difficult trading session as the week begins. But, after a quick down opening, the bulls quietly moved share prices higher as the day wore on. There wasn’t really anything remarkable about the move as breadth was less than impressive, but stocks did end the day higher nevertheless. We continue to keep an eye on Covid-19 cases, but market participants did not seem too concerned, at least for today.
By the close, the Dow Jones Industrial Average was up 153 points to finish the day at 26,024. The S&P 500 was up 20 points to close at 3,117. Gold was up $12 to trade at $1,765 per ounce, while oil was up $.85 to trade at $40.60 per barrel WTI.
It was a quiet start to the week, and if it weren’t for the remarkable moment of time that we live in, I would be saying that we could be entering the dog days of summer. Of course, nothing today is like anything we have seen in the past, so we still remain cautiously optimistic, but also realistic.
Have a nice evening everyone.