Friends
Despite continued favorable economic data, market participants seemed more concerned with renewed trade war concerns during today’s trading session, as stocks drifted into negative territory and remained there at the close. After the series of gains, the bulls have been able to string together, a slight pullback is hardly worth acknowledging, but as we have mentioned, some of the up days have been less than stellar too.
For the day, the Dow Jones Industrial Average was down 54 points to close at 24,713. The S&P 500 was down 2 points to finish the day at 2,720. Gold was down $2 to trade at $1,289 per ounce, while oil was up $.11 to trade at $71.60 per barrel WTI.
As mentioned, today’s economic data, leading indicators, was good though those looking for negatives might point out that leading indicators are not accelerating at the pace that they had been. Regardless, despite the hand wringing that the economy is headed for a fall, there isn’t much evidence, at least not yet, that an economic downturn is about to occur. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
