Friends
After a very quiet day of trading, stocks slumped once again in the last hour of trading before trying to rally in the final minutes. More than any concerted selling, there appeared to simply be a lack of interest in buying. With Bank of America’s earnings today we now have most of the major bank earnings behind us. Numbers were not bad, but the shares of these banks mostly have slumped since reporting.
As for the market in general, by the close the Dow Jones Industrial Average was down 39 points to finish the day at 34,411. The S&P 500 was down less than a point to close at 4,391. The Nasdaq Composite Index was down 18 points to close at 13,332. Gold was up $7 to trade at $1,982 per ounce, while oil was up $.87 to trade at $107.82 per barrel WTI.
On the earnings front, this week we will hear from Netflix, J&J, United Airlines, Abbott, Tesla, American Airlines, AT&T, Dow, American Express, Kimberly-Clark and Schlumberger among others. Will earnings have any affect at all on the direction of stocks over the coming weeks? We will see. Stay tuned.
Have a nice evening everyone.
