Stocks enjoyed another positive trading session as hopes that the reopening of America could lead us back to some sense of normalcy. Of course, we are constantly in a wait and see mode these days, but despite some blatant disregard for social distancing that you surely saw on the news, the grand reopening hasn’t produced any new disasters just yet. So, if people can get back to work, and if businesses can reopen, and if we don’t get a viscous spike in Covid-19 cases, maybe we can see a little light at the end of the tunnel.
Of course, stocks have been heading towards that light at the end of the tunnel for many weeks now. Hopefully, it’s not an oncoming train, but we’ll remain cautiously optimistic for now. As for today, by the close, the Dow Jones Industrial Average was up 529 points to finish the day at 24,995. The S&P 500 was up 36 points to close at 2,991. Gold was down $32 to trade at $1,702 per ounce, while oil was up $.93 to trade at $34.18 per barrel WTI.
We have a shortened trading week to deal with this week, but the bulls were able to get out of the gate very quickly. Let’s see how things play out this week. The stock market is taking a positive view of things at the moment. Stay tuned.
Have a nice evening everyone.