Friends
Stocks were weak today, especially the Nasdaq which was affected by losses in Amazon and other big name tech and momentum stocks. Traders are on pins and needles waiting for the Chinese tariffs that they are anticipating. There is to be some announcement after the close, but suffice it to say that all the uncertainty around trade is keeping market participants cautious.
By the close, the Dow Jones Industrial Average was down 92 points to finish the day at 26,062. The S&P 500 was down 16 points to close at 2,888. Gold was up $4 to trade at $1,205 per ounce, while oil was down $.34 to trade at $68.65 per barrel WTI.
We are still a week away from the FOMC meeting, so trade and tariffs will be front and center for traders as they try to navigate the second half of September. Let’s see what the White House announces today after the close, and if it is significant enough to affect trading tomorrow. Stay tuned.
Have a nice evening everyone.
