Friends
Stocks traded quietly today with very little conviction. The economic data was fine with a good ISM non-manufacturing number and a decent PMI Services Index number, while new home sales were better than expected-aided by lower mortgage rates. Nevertheless, market participants seemed uninspired.
For the day, the Dow Jones Industrial Average was down 13 points to close at 25,806. The S&P 500 was down 3 points to finish the day at 2,789. Gold was up $1 to trade at $1,288 per ounce, while oil was up $.02 to trade at $56.61 per barrel WTI.
Again, the rest of the week we’ll focus on employment data, with the ADP private payroll number tomorrow and the non-farm payroll number on Friday. Investors are looking for something to get excited about. Let’s see if the employment data gets their attention.
Have a nice evening everyone.
