Friends
Early on it appeared that stocks might succumb to all the geopolitical sabre rattling with regards to North Korea, but by the end of the trading day, the S&P once again showed very little change. The Dow’s decline was mainly accounted for by the drop in Disney shares after its earnings report after the close yesterday. Disney’s continued struggles on the cable side (ESPN) and the announcement that they are going to remove their content from the likes of Netflix and create their own distribution channel, hurt the price of its shares as well as Netflix shares.
By the close, the Dow Jones Industrial Average was down 36 points to finish the day at 22,048. The S&P 500 was down less than a point to close at 2,474. Gold was up $18 to trade at $1,281 per ounce, while oil was up $.37 to trade at $49.54 per barrel WTI.
Over the next couple of days we’ll get earnings releases from some of the beleaguered retailers. Are the shares poised for the worst, or perhaps the worst has already been priced in. We will see. In the meantime we’ll monitor the markets reactions to geopolitical concerns, but as has been the case for some time now, nothing seems to rattle market participants. Let’s see if that continues.
Have a nice evening everyone.
