Friends
The stock market seems to be focusing on the positives right now (the economy, corporate earnings, consumer confidence, etc.) and not the negatives which could include the consequences of possible trade wars. The bulls appear to have the upper hand right now, while the bears wait for a disrupting headline.
For the day, the Dow Jones Industrial Average was up 178 points to close at 24,813. The S&P 500 was up 12 points to finish the day at 2,746. Gold was down $ 2 to trade at $1,296 per ounce while oil was down $.86 to trade at $64.95 per barrel WTI.
After briefly dropping below 2.80% last week during the Italian debt concerns, the 10 year Treasury note has now seen its yield climb to 2.94%. As mentioned Friday, last week’s jobs report included a strengthening average hourly earnings number (but not so much that inflation worries are stoked). We are climbing back towards the upper end of our trading range. Will the bulls be able to push through to new highs this time, or will we retreat right back into the depths of the range. It should be an interesting week of trading as market participants contemplate the G7 meeting this weekend.
Have a nice evening everyone.
