The retails sales number for April was understandably awful. Again, when you shut everything down, numbers are going to be terrible. Stocks tumbled a little at the open, but by the afternoon had made it into positive territory. After some back and forth the market averages ended up slightly higher.
For the day, the Dow Jones Industrial Average was up 60 points to finish the day at 23,685. The S&P 500 was up 11 points to close at 2,863. Gold was up $12 to trade at $1,753 per ounce, while oil was up $1.99 to trade at $29.55 per barrel WTI.
The bears showed back up again this week, but they weren’t able to inflict the damage that they would have liked to. I guess that darn Fed liquidity keeps on raining on their parade. Let’s see what next week has in store. Stay tuned.
Have a great weekend everyone.