Friends
Despite more political drama stocks basically just treaded water today. On the economic front, the housing starts number was weaker than expected, but the industrial production number was a bit better than expected. We’ll call that a wash. So, the bulls weren’t able to tack onto yesterday’s gains, but the bears weren’t really able to do much about it.
By the close, the Dow Jones Industrial Average was down 2 points to finish the day at 20,979. The S&P 500 was down 1 point to close at 2,400. Gold was up $7 to trade at $1,237 per ounce, while oil was down $.24 to trade at $48.61 per barrel WTI.
It already is starting to feel like the dog days of summer are upon us. But actually, it has felt like that for some time. Other than a day here or there, we have had very little excitement with regards to stocks. It’s not unusual for stocks to levitate a bit into Memorial Day, so perhaps the bulls have a clearer path for a week or two, but for the most part it looks like a standoff with neither party having an edge.
Have a nice evening everyone.
