Friends
While the President huddled with members of both parties discussing tax reform, stocks drifted quietly higher. There was very little volatility to speak of as market participants seem to be searching for the next catalyst. As mentioned on Monday, before Friday there is little in the way of economic news, and now we won’t see the outline of a tax reform agreement until later this month.
For the day, the Dow Jones Industrial Average was up 39 points to close at 22,158. The S&P was up 1 point to finish the day at 2,498. Gold was down $7 to trade at $1,325 per ounce, while oil was up $1.14 to trade at $49.37 per barrel WTI.
I guess traders are reduced to watching for white smoke coming from the White House chimney to indicate how the tax reform talks are going between President Trump and party leaders. In the meantime, stocks continue to quietly drift to new highs.
Have a nice evening everyone.
Stay Strong Houston.
