Friends

The bulls have decided to buy those beaten-up AI stocks for what they hope is one more rally into year end. This also was what the street refers to as “quadruple witching” today as contracts of 4 types of securities expire today (stock index futures, stock index options, single stock options and single stock futures). So, late moves at the close on these types of days are sometimes a little suspect, but a win is a win, right?

As for today, by the close the Dow Jones Industrial Average was up 183 points to finish the day at 48,134. The S&P 500 was up 59 points to close at 6,834. The Nasdaq Composite Index was up 301 points to close at 23,307. Gold was up $5 to trade at $4,370 per ounce, while oil was up $.50 to trade at $56.65 per barrel WTI.

Santa is filling up his sleigh. Will he be delivering some nice presents to the bulls or are they going to find coal in their stockings this year? We’ll marinate some ice cubes this weekend and get ready for next week’s shortened trading schedule.

Have a great weekend everyone.