Friends

It was a very quiet day of trading but with an upward bias. There doesn’t seem to be much conviction at this point in either direction. The bulls are hoping for one more rally from the AI growth stocks into year end, but at the moment enthusiasm has definitely waned. Maybe Santa can stir things up before we close out the year. The official Santa Clause rally period is the five trading days before the year end and the first two trading days of the new year (don’t ask me how they came up with that). So officially, Wednesday will be the first day of the Santa Clause rally should one develop.

As for today, by the close the Dow Jones Industrial Average was up 227 points to finish the day at 48,362. The S&P 500 was up 43 points to close at 6,878. The Nasdaq Composite Index was up 121 points to close at 23,428. Gold was up $82 to trade at $4,470 per ounce, while oil was up $1.56 to trade at $58.08 per barrel WTI.

I sure wouldn’t mind a nice quiet end to the year. Who’s with me?

Have a nice evening everyone.