Stocks were a bit quieter today, but the bulls still are holding on to the high ground. Again, despite continuing concerns about the coronavirus (well, at least I still have continuing concerns) it appears that liquidity and fear of missing out has overridden any fear of the virus spreading and causing global economic slowdown.
As for today, by the close the Dow Jones Industrial Average was up 88 points to finish the day at 29,379. The S&P 500 was up 11 points to close at 3,345. Gold was up $7 to trade at $1,570 per ounce, while oil was up $.23 to trade at $50.98 per barrel WTI.
Remember, we get the non-farm payroll number tomorrow (estimates are for about 160,000 new jobs to have been created in January), and so far this week the economic data has been favorable. Let’s see how this crazy, but good week for stocks, finishes out tomorrow.
Have a nice evening everyone.