Nothing new for 2015, as the Dow endured another 200 point swing during the trading session. After opening lower, stocks rallied some after a rumor surfaced as to what the ECB QE might look like (we should find out officially tomorrow), but then fell back into negative territory. Finally, stocks did fight their way into positive territory by the close of the session.
For the day, the Dow Jones Industrial Average was up 39 points to close at 17,554. The S&P 500 was up 9 points to finish the day at 2032. Gold was up slightly to trade at $1294 per ounce, while oil was up $1.05 to trade at $47.52 per barrel WTI.
As we wait for the official ECB announcement and as more corporate earnings hit the tape, volatility is the name of the game so far in 2015. Though market averages are much changed from where we began the year, day to day and intraday volatility is quite impressive. We haven’t seen the likes of this since 2011. Let’s see what ECB President Draghi has in store for us tomorrow.
Have a nice evening everyone.