Today started off with a bang despite a Reuters/U. of Michigan report showing lower consumer confidence. Retail sales are up and stocks like Abercrombie & Fitch (ANF) and Sears (SHLD) showed formidable gains today as the market pushed upward.
The Dow gained 100 points at one point and flirted with the 10,300 mark. Alas, the bulls couldn’t hold the rally and the markets started to drop around 2pm. Ultimately, the Dow closed at 10271, the NASDAQ at 2167, and the S&P 500 at 1093 – all positive gains for Friday the 13th!
Crude oil futures were down 59 cents to $76.35 a barrel. Meanwhile, gold continues to soar to new unprecedented levels against the dollar, ending today at $1117 an ounce, up $10.
The retail sector was the winner for today, with a lot of stocks ending on a positive note. Disney (DIS) closed at $30.44, up 4.7%. However, financials took a big hit with Wells Fargo (WFC) closing down over 2.7% at $27.45 a share. Technology, industrial goods, utilities, and other sectors had a generally good day.