Friends
It was Fed day, and as expected there was no adjustment to interest rates. And, if you believe Fed officials and pundits, there might not be any interest rate adjustments for quite some time. Of course, we’ve heard these types of proclamations and analysis before, so we’ll take it with a grain of salt. Stocks held small gains for most of the trading session, so the 2 day losing streak was broken.
By the close, the Dow Jones Industrial Average was up 29 points to finish the day at 27,911. The S&P 500 was up 9 points to close at 3,141. Gold was up $11 to trade at $1,479 per ounce, while oil was down $.40 to trade at $58.84 per barrel WTI.
With the Fed meeting now behind us, market participants will likely focus mainly on the trade deal/tariff deadline this weekend. Whatever happens, will tee us up for a move into year end. Will it be a Santa Claus type rally to top off a great year for stocks, or will we be facing uncertainty and disappointment. Let’s see how the markets trade into the decision over the next two days. Stay tuned.
Have a nice evening everyone.
