Despite the horrific terrorist attack in Paris overnight, stocks rallied from the opening of trading today and were able to hold the gains for the entire session. The ADP private sector payroll number was a little better than expected, which fueled hopes for Friday’s government produced jobs report. The Fed minutes released in early afternoon, certainly didn’t take any steam out of the rally, as nothing really new was unearthed. By the way, oil finally stopped going down, at least for a couple of hours anyway.
By the close, the Dow Jones Industrial Average was up 212 points to finish the day at 17,584. The S&P 500 was up 23 points to close at 2025. Gold was down $5 to trade at $1213 per ounce, while oil was up $.52 to trade at $48.45 per barrel WTI.
Hopefully today’s ADP jobs number and Friday’s non-farm payroll number will change the tide of negative economic data we have been seeing over the past couple of weeks. After the first few days of trading in 2015, today’s rebound was a breath of fresh air for the bulls. Let’s see how the week winds down.
Have a nice evening everyone.