Friends
Though both JP Morgan Chase and Citi had really good earnings reports this morning, stocks had a negative bias right from the opening bell this morning. There were some ebbs and flows to today’s trading, but once again market participants seem a little hesitant to invest new monies at the moment. Over the coming weeks we’ll get an idea as to whether current market levels are justified as corporate earnings season unfolds.
As for today, by the close the Dow Jones Industrial Average was down 177 points to finish the day at 30,814. The S&P 500 was down 27 points to close at 3,768. The Nasdaq Composite Index was down 114 points to close at 12,998. Gold was down $25 to trade at $1,826 per ounce, while oil was down $1.45 to trade at $52.12 per barrel WTI.
Some of the companies that we will hear from next week include Bank of America, Goldman Sachs, Morgan Stanley, Travelers, Netflix, United Airlines, Procter & Gamble, Intel, Schlumberger, Union Pacific and Halliburton. It should be an interesting earnings season.
Have a great 3 day weekend everyone. We’ll be back in action on Tuesday.
