We made to the end of the 2nd quarter of 2020. Wow, that was a tumultuous six months, wasn’t it? Actually, despite Covid-19 cases rising and a country that is experiencing social unrest, stocks actually had a very good quarter. Of course, we were coming off a disastrous first quarter, so essentially we simply erased much of the first quarter’s damage over the last 90 days. Whatever the case, it was nice to see stocks recover and it seemed to calm the nerves of market participants. Now, we do have an economic reopening of sorts unfolding, but as we have seen, there already have been setbacks. So, we’ll remain hopeful, but cautious as we look into the second half of 2020.
As for today, by the close the Dow Jones Industrial Average was up 217 points to finish the day at 25,812. The S&P 500 was up 47 points to close at 3,100. Gold was up $17 to trade at $1,799 per ounce, while oil was down $.33 to trade at $39.37 per barrel WTI.
As mentioned, 2020 is halfway in the books. It’s certainly a book that we didn’t expect to be reading, but traders always say, you trade the market you have, not the one you want. So, we’ll buckle up and get ready for what is sure to be an eventful second half of the year. Oh, that’s right, we have an election coming up too. Stay tuned, we’ll be with you every step of the way.
Have a nice evening everyone.