Friends
Ok, I won’t say it was a wild day of trading again. But it was. If you include overnight futures trading, we went from down almost 500 points overnight to up 600 after the open and then all the way back down into negative territory. Things did settle just slightly down for the Dow in the end, but the beleaguered Nasdaq once again felt the brunt of the selling. We did get a robust 6.9% GDP number for the 4th quarter, which was better than expected (up 5.7% for the full year 2021). But the focus now is on the Fed, inflation, and future growth.
By the close, the Dow Jones Industrial Average was down 7 points to finish the day at 34,160. The S&P 500 was down 23 points to close at 4,326. Nasdaq was down 189 points to close at 13,352. Gold was down $35 to trade at $1,794 per ounce, while oil was down $.32 to trade at $87.03 per barrel WTI.
We will get a look at Apple’s earnings after the close. So far earnings have been pretty good, but reaction to earnings releases has been miserable.
Have a nice evening everyone.
