The week from hell here in Texas is almost over. As for the markets, things were a bit choppy today as the market averages struggled to show any real direction. Market participants are focusing their attention back on vaccines and economic reopening. With that in mind shares of cyclical/economically sensitive companies such as industrials, materials, financials and energy are rallying. On the other hand many of the recent favorite tech and stay at home stocks have shown some vulnerability.
As for today, by the close the Dow Jones Industrial Average was up slightly less than a point to finish the day at 31,494. The S&P 500 was down 7 points to close at 3,906. The Nasdaq Composite Index was up 9 points to close at 13,874. Gold was up $5 to trade at $1,780 per ounce, while oil was down $1.55 to trade at $58.97 per barrel WTI.
It appears we will warm up here in Houston over the weekend. In the meantime stay safe and warm and hopefully we’ll be back to somewhat normal next week.
Have a great weekend everyone.