The bulls seem to have gotten their rest overnight, because they were in a buying mood today. Stocks started the day to the upside and the buying continued throughout the trading session. The proceedings in the Senate with regards to the beginning of the Impeachment process didn’t seem to have any affect at all on the markets.
By the close, the Dow Jones Industrial Average was up 267 points to finish the day at 29,297. The S&P 500 was up 27 points to close at 3316. Gold was down $.40 to trade at $1,553 per ounce, while oil was up $.63 to trade at $58.44 per barrel WTI.
The surge in the stock market is very impressive to say the least. A strong retail sales number combined with low inflation numbers added to this week’s economic goldilocks scenario. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.