Morning Market Stir: Friday’s Reversal Holding This Morning
Alan Knuckman reviews the market’s action on Friday in which the indices bounced strongly and erased all of the losses for the week.
In the Morning Market Stir for Monday, August 11, Alan Knuckman reviews the market’s action on Friday in which the indices bounced strongly and erased all of the losses for the week. The S&P closed at 1924, the Dow finished at 16,479, and the Nasdaq at 3,874. The dollar fell to 81.45, with the Euro up slightly 134.13. Bonds made new highs to 140’11, and closed at 139’13. Crude oil closed at 97.65 and gold ended the week at $1,311, down for the day but solidly above the key $1,300 price level. This morning we are seeing some follow through, as the indices are up about 0.5% across the board, with the Nasdaq leading the way. Bonds are down slightly, with crude and gold roughly unchanged.
