Friends
Market participants had several economic reports to chew on this morning before the opening bell. The CPI number came in hotter than expected (the Fed should like that), Housing Starts surged in October, and the weekly initial jobless claims dropped more than expected (the lowest in many years). Despite the plethora of seemingly good economic news, stocks were listless and traders seemed to produce a collective yawn.
For the day, the Dow Jones Industrial Average was up 35 points to close at 18,903. The S&P 500 fared better up 10 points to close at 2,187. Gold was down $8 to trade at $1,215 per ounce, while oil was down $.68 to trade at $44.89 per barrel WTI.
Stocks have definitely calmed down quite a bit this week, but the dollar continues to gain strength while bonds continue to sell off (rates rise). Let’s see how the week comes to a close tomorrow.
Have a nice evening everyone.
