Friends
Stocks showed a little sign of nerves during today’s trading session as we look to enter the latest earnings season. Indeed, shares are somewhat priced for perfection, so any disappointments will likely be greeted by a hostile reaction. With the bond market closed for Columbus Day it was quiet overall.
By the close, the Dow Jones Industrial Average was down 12 points to finish the day at 22,761. The S&P 500 was down 4 points to close at 2,544. Gold was up $12 to trade at $1,287 per ounce, while oil was up $.25 to trade at $49.54 per barrel WTI.
As we ready for the onslaught of earnings reports, it is a somewhat quiet week on the economic front, except for Friday’s CPI number which may continue to push the Fed towards a rate hike in December. I admit it. I’m a little jittery myself about just how corporate earnings are going to be received in the next few weeks. Stay tuned.
Have a nice evening everyone.
Stay Strong Houston
