Above the fold
Rates Fall But Stocks Don’t
Independent Investment Management designed to protect and grow your wealth.
JIM CARLTON
Managing Director
Chief Investment Officer
Friends
Yields on bonds fell this morning which spooked the stock market at the open, but the bulls rallied the troops and stock buyers appeared and drove sticks higher by midday. Trading was quiet in the afternoon, but the bulls can be encouraged that they were able to hold onto the hard earned gains.
By the close, the Dow Jones Industrial Average was up 258 points to finish the day at 26,036. The S&P 500 was up 18 points to close at 2,887. Gold was down $3.10 to trade at $1,548 per ounce, while oil was up $1.00 to trade at $55.93 per barrel WTI.
As mentioned, interest rate declines have been triggering stock sell offs. Did we break that cycle today, or was it just a one day phenomenon? It will be something to watch for.
Have a nice evening everyone.
Jim