Daily Investment Interpretations

December 30, 2008

2008-12-30:  The markets rose today. The NASDAQ gained 40.38 (2.67%) to close at 1,550.7, the Dow posted a rise of 184.46 (2.17%) to end at 8,668.39 and S&P 500 copped a gain of 21.22 about (2.44%) to 890.64. Oil backed off to $38.29 a barrel, and gold slipped $5.30 to $870.00 an ounce. The VIX fell 2.27  to 41.63.
    With a few trading hours left in 2008, I think we can assume that the Santa Claus rally, such as it was, is about over. Real action may not resume until next week, when everyone gets back from their holiday vacations and the New Year kicks into high gear.
    The markets are basically in a trading range, rising slightly over the past week or two. They're also settling down, with smaller excursions and reduced volatility.