Friends
The lack of volatility in the stock market is starting to get a little bit eerie. Once again, today’s trading session produced very little movement as neither the bulls nor the bears can muster any type of momentum.
Stocks did drift to the downside in the late afternoon on news of more North Korean nuclear missile tests, but again little damage was done. By the close, the Dow Jones Industrial Average was down 36 points to finish the day at 20,975. The S&P 500 was down 2 points to close at 2,396. Gold was down $6.90 to trade at $1,220 per ounce, while oil was down $.40 to trade at $46.03 per barrel WTI.
Oil prices continue to fall marked by the theme of weak demand and ample supply. Is oil telling us a story? How about bonds? Yields have moved back up a tad on the 10 year note, so that would conflict with oil’s story. Regardless, things are quiet in the stock market, as market participants wait for something to give. We’ll continue to monitor the situation.
Have a nice evening everyone.
