Friends
There was more selling this morning after yesterday’s Fed action, but by the afternoon stocks had erased most of those losses. But in the end stocks moved lower into the close leaving the bears back in control of the high ground as we await tomorrow’s all-important non-farm payroll number.
For the day, the Dow Jones Industrial Average was down 146 points to close at 32,001. The S&P 500 was down 39 points to close at 3,719. The Nasdaq Composite Index was down 181 points to close at 10,342. Gold was down $15 to trade at $1,634 per ounce, while oil was down $1.82 to trade at $ 88.18 per barrel WTI.
After a great October, stocks have gotten off to a terrible start for November. The Fed Chair disappointed those who continue to look for a Fed policy pivot yesterday. Let’s see how tomorrow’s jobs number plays into the narrative that bad is good and good is bad.
Have a nice evening everyone.
