Friends
Stocks traded lower today with no real conviction. Yes, there were new headlines- the Summit could happen eventually, or not, etc. Actually, it was energy shares that accounted for the losses, as oil dropped significantly on word that the Saudi’s may add supply.
By the close, the Dow Jones Industrial Average was down 58 points to finish the day at 24,753. The S&P 500 was down 6 points to close at 2721. Gold was down $2 to trade at $1,301 per ounce, while the aforementioned oil was down $3.06 to trade at $67.65 per barrel WTI.
As things start to heat up around our parts, it’s as if we are already entering the dog days of summer. As mentioned, we seem to be stuck firmly in a trading range. What will break us out of this range, and in which direction, remains to be seen. Let’s enjoy the three day weekend and get back at it on Tuesday.
Have a great Memorial Day weekend everyone, and God bless all who have served to protect this country.
