Friends
The earnings keep coming and stock market participants continue to display mixed emotions about them. After the close today we get earnings from both Amazon and Alphabet (Google), so that should be interesting.
As for today, stocks spent the day in negative territory with the Dow Jones Industrial Average down 128 points to close at 27,140. The S&P 500 was down 15 points to close at 3,003. Gold was down $9 to trade at $1,414 per ounce, while oil was up $.19 to trade at $56.07 per barrel WTI.
So far it appears that earnings have come in about as expected, and it also appears that stocks were rather fully priced. Amazon and Google will likely set the tone for early morning trading tomorrow, but it will be interesting to see where everything lies once earnings season is behind us and the Fed has made their decision (I expect a quarter point cut)- which occurs next week. First, let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
Jim
