Stocks were just drifting along until a small buying flourish pushed the market averages higher in the last hour of trading. The buying sure couldn’t be attributed to better news on the health front, as virus news continues to go in the wrong direction, especially here in our neck of the woods. Nevertheless, buyers went looking for some bargains this afternoon, after yesterday’s selloff.
By the close, the Dow Jones Industrial Average was up 299 points to finish the day at 25,745. The S&P 500 was up 33 points to trade at 3,083. Gold was down $3 to trade at $1,772 per ounce, while oil was up $1.03 to trade at $39.04 per barrel WTI.
Like we have seen lately, selloffs are quickly met with buying. That really isn’t surprising, even given the lack of good news, since there is really no place else for investors to realize any returns. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.