Friends
Stocks had a nice quiet day as the market averages lingered in mainly positive territory while, for a day at least, there weren’t any drastic headlines. The economic data was somewhat of a mixed bag with Industrial Production showing renewed life, Consumer Confidence climbing higher, Housing Starts slumping a bit, and the JOLTS number showing ample job openings. All in all, it was kind of nice to have a non-volatile day- on a Friday too!
By the close, the Dow Jones Industrial Average was up 72 points to finish the day at 24,946. The S&P 500 was up 4 points to close at 2,751. Gold was down $4 to trade at $1,312 per ounce, while oil was up $1.10 to trade at $62.29 per barrel WTI.
All eyes will be on the Fed as the FOMC meeting begins next Tuesday. There is a chance that the Fed will raise rates at this meeting, so traders will be focused on the bond market. The 10 year note is still hanging in the 2.84% area, so recent movement has been muted. Let’s see what the Fed and the markets have in store for us next week. Stay tuned.
Have a great weekend everyone.
