Stocks continued their post-election climb today with the Industrials, Nasdaq, and S&P 500 each setting new record highs. This further confirms the bullish thesis, but still, markets appear to be overextended on the upside.
The Industrials tacked on 89 points, with the Industrial average closing at 18,956.69, less than 50 points from 19,000. The Transports also gained, up half a percent. The Nasdaq and S&P were up 0.9% and 0.75% respectively.
Oil also had a good day, rising nearly 4% and hitting the highest level in three weeks. Thankfully, the dollar backed off a bit (down 0.27%), while bonds recouped some of their prior losses. The yield on the 10-year Treasury stands at 2.32%
Precious metals slowed their downward trends with gold rising a buck, silver losing 10 cents and platinum gaining $14.50. Miners, per XAU, gained 2.23%.
Introduction to Options
By Matthew Kerkhoff
Today we’re going to take a little departure from our typical conversation ... Log in or subscribe to continue reading.