Friends
Well, it was only a half day of trading, but the bulls decided to do a little shopping before heading off to the beach or the pool. It was a bit different today, as things that didn’t do well in the first half of the year did well today such as financials and energy, while the momentum stocks such as Amazon, Apple, Facebook and Google continued to come under heavy selling pressure. Will this type of rotation continue when everyone is back on Wednesday after the holiday? It will be interesting to see.
By the close the Dow Jones Industrial Average was up 129 points to finish the shortened trading session at 21,479. The S&P 500 was up 5 points to close at 2,429. Gold was down $21 to trade at $1,220 per ounce, while oil was up $.74 to trade at $46.78 per barrel WTI. Nasdaq was the loser for the day down 30 points and about .50%.
Have a safe and happy 4th of July everyone. We’ll talk to you on Wednesday.
