Continuing the “let’s follow the headline” pattern; stocks had a nice bounce back rally today based on a more favorable tone on trade talks. I know, it seems to change on an hourly basis, but until we immerse ourselves in corporate earnings season, this is what pushes stocks around for now.
For the day, the Dow Jones Industrial Average was up 182 points to finish the day at 26,346. The S&P 500 was up 26 points to close at 2,919. Gold was up $8 to trade at $1,512 per ounce, while oil was up $.06 to trade at $52.69 per barrel WTI.
In the meantime, there are more than 7 million jobs openings in the U. S., so the employment picture still remains sturdy if not robust. Again, let’s bide our time until we start getting a steady stream of corporate earnings. Then we’ll at least be able to hear from companies and get a feel for how they are dealing with economic uncertainty.
Have a nice evening everyone.