Friends
Stocks got off to a rocky start this morning with the Dow down over 300 points in early trading. But buyers stepped in and pushed the market averages higher, with the aforementioned Dow actually moving into positive territory by more than 100 points. After some back and forth the Dow was able to hold onto the gains while the other market averages were slightly lower.
By the close, the Dow Jones Industrial Average was up 104 points to finish the day at 33,733. The S&P 500 was down 2 points to close at 4,016. The Nasdaq Composite Index was down 30 points to close at 11,334. Gold was up $9 to trade at $1,938 per ounce, while oil was down $1.50 to trade at $80.12 per barrel WTI.
More earnings today and more mixed returns. It appears as is often the case, companies are meeting or beating current earnings estimates but are reluctant to be anything but cautious about the future. It will be interesting to see if the big tech names are able to meet or beat expectations but expressing a cautious tone for the future is almost assured. Stay tuned.
Have a nice evening everyone.
