Friends
Despite the full court press by the White House and members of Congress with regards to the tax reform outline, stocks had very little direction today. The revised 2nd quarter GDP number showed 3.1% growth, which was slightly better than the last revision, but again, no real effect on stock direction.
For the day, the Dow Jones Industrial Average was up 40 points to close at 22,381. The S&P 500 was up 3 points to finish the day at 2,510. Gold was up $1 to trade at $1,289 per ounce, while oil was down $.55 to trade at $51.59 per barrel WTI.
We finish up the quarter tomorrow, and we are doing so at all- time highs in the market indexes. Once again, the market advance of 2017 has been deliberate and cautious, but relentless. The bears have been shooting against it all year and have the wounds to prove it. Let’s see how we close the 3rd quarter. Man, this year is flying by.
Have a nice evening everyone.
Stay Strong Houston
