How about that! Despite all the hand wringing and gloom and doom, someone decided to buy stocks today. That’s right; stocks enjoyed a nice advance, as the bulls seemed to gain confidence little by little throughout the trading session. Yes, dividend yielders did fine (that’s the go to now with interest rates as low as they are), but Nasdaq, which is filled with technology names was the star of the day – up more than 2%.
By the close, the Dow Jones Industrial Average was up 372 points to finish the day at 26,379. The S&P 500 was up 54 points to close at 2,938. Gold was down $5 to trade at $1,514 per ounce, while oil was up $1.77 to trade at $52.86 per barrel WTI.
It will be very interesting to see if the bulls can carry today’s momentum into tomorrow’s end of the week trading session. If so, they could undo a lot of the damage that was inflicted upon investors earlier in the week. Stay tuned, we’ll let you know how the week finishes out tomorrow.
Have a nice evening everyone.