Friends
We were well on the way to tacking on nicely to yesterday’s gains in the stock market, when word came of an evacuation of a soccer stadium in Germany because of a possible terrorist attack. Buyers evacuated the market’s playing field as quickly as fans evacuated the soccer stadium in Germany. It is safe to say that, understandably markets are a bit jittery at the moment. Once all was said and done, we were left with a mixed bag of results
By the close, the Dow Jones Industrial Average was up 6 points to finish the day at 17,489. The S&P 500 was down 2 points to close at 2050. Gold was down another $14 to trade at $1069 per ounce, as the precious metal just can’t seem to get out of its own way. Oil was down $1 to trade at $40.74 per barrel WTI.
With market participant’s attention squarely on the terrorist situations, today’s CPI number went somewhat unnoticed, but it was just a touch hotter than expected which might help the Fed justify a December liftoff. Of course, we now have a new wrinkle in the equation with just how terrorism might affect the global growth situation. So really, all bets are off once again with regards to Fed action. Let’s see what tomorrow holds in store for us.
Have a nice evening everyone.
