Friends
Well, more of the same. Stocks were very quiet today, but with a slightly positive temperament. As we have seen for weeks now, the S&P 500 barely moves, the Dow inches to new highs every day and the Nasdaq goes up one day and down the next. Global events, domestic politics, earnings reports- nothing seems to have much effect on the markets.
As for today, the Dow Jones Industrial Average was up 25 points to close at 22,118. The S&P 500 was up 4 points to finish the day at 2,480. Gold was down $1 to trade at $1,262 per ounce, while oil was down $.27 to trade at $49.31 per barrel WTI.
As we have mentioned, August tends to really be a grind as traders spend time at their homes in The Hamptons. Earnings season is mainly behind us, but we’ll get some more this week. For the most part, earnings have been good, but share price reaction has been muted. Not really a surprise given the valuation levels we are currently trading at. Let’s see how the week develops.
Have a nice evening everyone.
