Friends
Stocks can go down! Hard to believe I know, but with today’s action it appears to actually be true. After yesterday’s raucous rally in the aftermath of the Trump speech before a joint session of Congress on Tuesday night, it really isn’t a surprise that things might cool down just a bit. One might say that it would be somewhat healthy for the market to take a breather at this point, and let some of the recent gains be digested. Of course, the rumblings of a possible Fed rate hike this month has added a new twist to the horizon.
As for today, by the close the Dow Jones Industrial Average was down 112 points to finish the day at 21,002. The S&P 500 was down 14 points to close at 2,381. Gold was down $15 to trade at $1,235 per ounce, while oil was down $1.12 to trade at $52.71 per barrel WTI.
Maybe a little volatility will pick up at this point, or perhaps today was just a one day pause. We’ll find out tomorrow as the first week of March comes to an end. We’ll let you know how things finish out.
Have a nice evening everyone.
