Stocks enjoyed another nice trading session, as decent economic news (a better than expected Case -Shiller Index showed strength in housing prices) and lack of any new disturbing news in Ukraine, had traders in the buying mood. The Fed began its 2 day FOMC meeting today, and it’s likely we see the announcement of the continuation of the taper in tomorrow’s post meeting release.
As for today’s session, by the close the Dow Jones Industrial Average was up 86 points to finish the day at 16,535. The S&P 500 was up 8 points to close at 1878. Gold was down $2 to trade at $1296 per ounce, while oil was up $.19 to trade at $101.03 per barrel WTI.
Assuming the Fed has no real news making verbiage in tomorrow’s statement, the next economic data point focus will be Friday’s jobs report. Of course, we continue to get earnings reports all week, so suffice it to say, we have a lot to chew on this week. Let’s continue to watch.
Have a nice evening everyone.