Friends
Stocks figured to be down at the open given the announcement of the Chinese trade tariffs, and they were. By mid-morning the Dow was sporting a nearly 300 point loss, but as the trading session wore on stocks recovered a good portion of those losses.
By the close, the Dow Jones Industrial Average was down 84 points to finish the day at 25,090. The S&P 500 was down 3 points to close at 2,779. Gold was down $25 to trade at $1,282 per ounce, while oil was down $2.12 to trade at $64.77 per barrel WTI.
It was a down week for stocks, but given the wave of headlines and economic data, it was not as volatile as we might have guessed. We now look to enter the dog days of summer. Let’s see what next week has in store for us.
Have a great weekend everyone.
