The Closing Look

Stocks ended mixed on Monday as investors digested the recent rally and the news that broke over the weekend about OPEC and Non OPEC members reaching a deal to cut production. Oil producers around the globe reached a deal to cut production by 1.2 million barrels and this was their first major agreement to cut production since 2001. Oil opened higher but sold off and closed in the lower half of its range on a daily basis. Could be a classic case of buy the rumor and sell the fact.

Gary’s Thoughts: Mixed but fine. 20,000 dow looks like a magnet. Oils did disappoint as many reversed…but no biggie.