Friends
It was another very quiet day of trading despite the moves in some of the stocks that reported earnings. Netflix sold off on its earnings release while Travelers’ shares soared higher. Morgan Stanley’s earnings looked good but at first the stock sold off. But by the close the shares were slightly higher. It looks like it might be that kind of earnings season with mixed results and mixed share price reactions. The market averages spent the day mainly lower, but volume was light and there really wasn’t much volatility.
By the close, the Dow Jones Industrial Average was down 79 points to finish the day at 33,897. The S&P 500 was down a fraction to close at 4,154. The Nasdaq Composite Index was up 3 points to close at 12,157. Gold was down $12 to trade at $2,006 per ounce, while oil was down $1.70 to trade at $79.16 per barrel WTI.
We get a look at Tesla’s earnings after the close. This is always one that gets a lot of attention, and the price of the stock tends to move substantially on the day after the earnings release. We also will hear from IBM after the close. We used to call IBM “Big Blue” in the old days. Anyway, we’ll continue to monitor this all-important earnings season.
Have a nice evening everyone.
