The stock market was open for trading today, so that must mean that stocks traded higher. Ok, I’m just kidding, but it sure seems like the market averages trade higher every day recently. Sure, the economy is “opening” back up, but the markets with the help of Fed liquidity seems to be pricing in some very good news. I don’t want to rain on the parade, but as I watch the news all day long, it appears that there just might be a slight discrepancy between the markets view of reality and what I am seeing on the television. We’ll update our outlook to “extremely” cautiously optimistic for the time being.
As for today, stocks moved higher throughout the trading session. By the close, the Dow Jones Industrial Average was up 461 points to finish the day at 27,572. The S&P 500 was up 38 points to close at 3,232. Gold was up $23 to trade at $1,706 per ounce, while oil was down $1.28 to trade at $38.27 per barrel WTI.
It was another great start to the week for stocks. Let’s see if the bulls can keep this momentum going. Color me impressed.
Have a nice evening everyone.