Dow makes it to over 300 points on the day but backs off into the close
When the Dow goes up up by 300 points it is worth a mention. The gain today was 297.84 or 1.55% on the day. Since the November low, the bell weather index is up about 9.30%.
The S&P is also up strongly today and closed at record levels. It rose by 29.12 points or 1.32%. Since the November low, the S&P is up 7.58%.
The Nasdaq rose by 60.76 points or 1.14% on the day. This index DID NOT trade at new highs today (the all time high is 5403.86. The high today reached 5397.93). Since the November low, the Nasdaq index has risen by 7.14%.
Health care was the dog today as Pres Elect Trump said in his "Person on the Year" TIME magazine article that he would like to see drug prices come down. Transportation index closed at record levels for the first time in 2 years. Financials also rallied sharply.
In other markets today:
- Gold was up by $3.16 or 0.27%.
- Crude oil was down by $-1.04 or -2.04%
- The US dollar was lower - falling on the day versus all the major currencies with the exception of the GBP
