Friends
After last week’s explosive start to the new year, traders appeared a bit more reserved as a new week of trading begins. With all the jobs data behind us, market participants will now turn their attention to upcoming earnings season. Indeed, after the type of rise we have seen in share prices the bulls would like to see companies at least meet and hopefully beat expectations. It’s not likely markets will be kind to companies that disappoint especially if their shares have been rising in anticipation.
As for today, by the close the Dow Jones Industrial Average was down 12 points to finish the day at 25,283. The S&P 500 was up 4 points to close at 2,747. Gold was up $1 to trade at $1,320 per ounce, while oil was up $.44 to trade at $61.88 per barrel WTI.
Later in the week we’ll get a look at the PPI and the CPI. Just as with last week’s jobs data, this week’s inflation data will continue to shape the Fed’s views on further rate hikes. Let’s see if the bulls ramp things up again this week, or will they become more cautious into earnings season?
Have a nice evening everyone.
