The Dow closed down -120.88 (-0.91%) at 13,190.84. The other indices were down a similar amount.
Well, Boehner’s big plan fell to the floor and vanished. Personally, I’m glad. I want to raise taxes on earnings of $250,00 or more.
For the week DJIA was up +0.4%, Nasdaq +1.7%, S&P 500 +1.2% and Russell 2000 +2.9%.
Year-to-date DJIA is up +8.0%, Nasdaq +16.0%, S&P 500 +13.7% and Russell 2000 +14.4%.
That means there were 28 Dow stock losers led by BAC (-2.00%), XOM, DIS, CAT, PG, MRK, AA, T and CSCO.
Markets close early next Monday ahead of the Christmas holiday. It will most likely be a low volume trading week.
The VIX jumped today for awhile, but closed at 17.84, up less than 1%. I love it when the VIX is near 20. The trades are just plain bigger.
The dollar was up against the Euro but fell against the Yen.
The yield on the 10-year Treasury note slipped to 1.77% from 1.8% on Thursday.
Quote from the NRA about the Newtown Connecticut Shootings: “The only thing that stops a bad guy with a gun, is a good guy with a gun.” They said we should protect our schools with armed guards. Maybe we should do bullet-proof vests and helmets for all school kids. It would great if we could manufacture those items in the U.S.A too.