Friends
It appears that traders are trying to figure out where we are headed as a country with regards to tariffs and potential trade wars. Is the President “negotiating” with his tariff talk? Are we going to settle into something that the markets could find palatable? We will find out soon enough. In the meantime, the news that the North Koreans are interested in talks helped spark a small early morning rally, but the rest of the day was actually somewhat quiet comparatively speaking.
By the close, the Dow Jones Industrial Average was up 9 points to finish the day at 24,884. The S&P 500 was up 7 points to close at 2,728. Gold was up $15 to trade at $1,334 per ounce, while oil was down $.12 to trade at $62.45 per barrel WTI.
Again, all eyes will be on the jobs number Friday, but until then politics as we have become used to, will likely dominate the headlines. In the meantime the challenge for traders will be trying to determine a direction for this market. As we have seen, we can change directions on a dime lately. We seem to continue to test support and resistance levels and are possibly forming a nice trading range. We shall see.
Have a nice evening everyone.
