Stocks were up again last week, helped by a strong rally on Friday which was triggered by a drop in interest rates in China, of all things. The reason for the drop in rates was because of some bleak economic data so it may turn out to be an emotional response to something that should be considered a negative. But the bull market appears to be in full force, and when in a bull market we shouldn't be surprised to see positive reactions and results.
Stocks tried to break out of their sideways consolidation yesterday and the Dow gained 40-points yesterday, but the late selling left it in an interesting position. We talked the other day about the Dow not closing with a gain or loss of more than +/-0.23% in the last week. The 40-point gain yesterday gave the Dow a... you guessed it... 0.23% gain. That's 8-days in a row of 0.23% or less.
Stocks were mixed and the Dow and S&P 500 were basically flat again yesterday. The Dow added just 13-points and regained some morning losses, but also gave back some larger early afternoon gains, and the S&P 500 had another 1-point day; +1.50 to be exact.
S&P 500 (C fund) ||Dow Completion (S fund) ||EFA (I fund) ||Bonds (F fund) |