Friends
While traders contemplated the idea of an independent mind like former Starbucks chairman Howard Schultz running for president in 2020 (considering his interview on CNBC this morning, his message appeals to what has become a small minority), stocks drifted somewhat aimlessly throughout the trading session.
For the day, the Dow Jones Industrial Average was down 13 points to close at 24,799. The S&P 500 was up 2 points to finish the day at 2,748. Gold was up $4 to trade at $1,301 per ounce, while oil was up $.57 to trade at $65.32 per barrel WTI.
The separation between growth (mainly tech) and value continues to widen as Apple, Netflix, Amazon, Google, Facebook, Microsoft and various chip makers surge ahead while “boring” value names linger near 52 week lows. Can these momentum names carry this market, or will we need participation from the laggards at some point? My guess is that something will give sooner than later.
Have a nice evening everyone.
