Have I mentioned that the stock market in 2015 seems to have amnesia? Once again, the bears could do nothing with the decline in share prices yesterday, as the bulls took control of the situation right from the start of trading today and held onto the gains for the entire session. Now, don’t ask me exactly why we were up today. As was the case yesterday, you can pick just about any reason you want, but the fact that there was no real impactful economic data or market moving type headlines leaves one to use his imagination.
By the close, the Dow Jones Industrial Average was up 121 points to finish the day at 18,163. The S&P 500 was up 19 points to close at 2123. Gold was basically flat to trade at $1187 per ounce, while oil was down $.42 to trade at $57.61 per barrel WTI.
With just two trading days left in the week and the month, this amnesia market could take us just about anywhere. We get a revised GDP number on Friday, so that might carry some weight, but we don’t get a look at the employment data until next week. Let’s see how the week plays out.
Have a nice evening everyone.