WizzWatch Market Newsletter

As the stock market ended the week trading on Friday the Dow Jones Industrial Average, the Nasdaq Composite Index and the Standard and Poors 500 all ended the week on the upside. The Nasdaq and the S&P 500 both ended the week strong, moving higher to the upside for 5 consecutive weeks as they both moved into record price high territory. The Dow Jones Industrial Average ended the week trading at 28,853.87 +723.54 or 2.58%. The industrial weighed index has been moving to the upside for 7 of the past 11 weeks and is currently 744.21 points away from an all time price high. The Nasdaq Composite Index ended the week trading at 11,695.63 +383.83 or +3.39% slightly below its all time price high set at 11,730.01.As for the S&P 500 it also made a record price high but ended the week trading at 3,508.01 +110.85 or +3.26%.

As for commodity trades, the price of gold as well as silver moved higher as the U.S. Dollar continued its slide for 11 of the past 15 weeks. The gold index ended the week trading at $1,974.90 per ounce +27.90 or +1.19% as silver ended the week trading higher for the second consecutive week. Silver ended the week trading at $27.79 or +$1.06 or 3.96% on heavier than average volume of 58.6 million above its average weekly trading volume of 46.01 million. The price of oil has continued to move in a sideways consolidation pattern for the 13 week in a row ending the week trading at $42.97 per barrel up $0.63 or 1.49%. 

By Marlin Rolle