Friends
Not surprisingly stocks continued their slide at the open today, but interestingly enough buyers finally appeared this afternoon to turn the tide. A more than 400-point Dow downturn was reversed and by the close the market averages were firmly in the green.
For the day, the Dow Jones Industrial Average was up 238 points to finish the day at 34,049. The S&P 500 was up 24 points to close at 4,296. The Nasdaq Composite Index was up 165 points to close at 13,004. Gold was down $32 to trade at $1,901 per ounce, while oil was down $2.80 to trade at $99.27 per barrel WTI.
Yes, Elon Musk is buying Twitter and taking it private, and that has dominated the business news channels in the past week. Now with that behind us maybe market participants can now focus on a big week of earnings. With Apple, Microsoft, Google, and Amazon all reporting this week, and the Fed in a quiet period before next month’s FOMC meeting, earnings will be a major focus. Let’s see how the week plays out.
Have a nice evening everyone.
