Friends
It was a very quiet day of trading, reminiscent of the pattern we were seeing before last week’s FOMC meeting. Stocks tried to stay in positive territory during most of the session, but the buyers seemed to disappear in the last 20 minutes of trading.
By the close, the Dow Jones Industrial Average was down 71 points to finish the day at 33,874. The S&P 500 was down 4 points to close at 4,241. The Nasdaq Composite Index was up 18 points to close at 14,271. Gold was down $2 to trade at $1,774 per ounce, while oil was up $.39 to trade at $73.24 per barrel WTI.
The yield on the 10 year Treasury note has settled in just under 1.50%, so after all the hoopla over the Fed meeting, bond yields are about where they were before the FOMC meeting. So, for the moment things have calmed down and we appear to be entering a typical somewhat boring summer season for stocks. Of course, you never know.
Have a nice evening everyone.
