Friends
It was big day for news headlines, but stocks remained mostly unaffected. After Friday’s mess, it was interesting to see if stocks would follow through to the downside when trading started today. Also, it was interesting to see how the release of the Mueller report would affect stocks. When all was said and done, stocks fell a bit, rose a bit and in the end did little.
By the close, the Dow Jones Industrial Average was up 14 points to finish the day at 25,516. The S&P 500 was down 2 points to close at 2,798. Gold was up $9 to trade at $1,321 per ounce, while oil was down $.08 to trade at $58.96 per barrel WTI.
Bonds continue to be the bigger story with the yield on the 10 year Treasury note now near 2.41%. Remember, the 30 day yield is 2.45%, the 90 day yield in 2.45%, and the 6 month yield is 2.46%. The yield curve inversion is causing plenty of angst among market participants, and surely causing hesitation for those wanting to put money into stocks, as they worry that signals that the bond market are sending are not good for economy and stocks. Of, course lower rates in past years led to investors buying stocks, as they became the only game in town to provide needed returns. It should be an interesting week. Stay tuned.
