Friends
Stocks drifted aimlessly today, as traders are apparently waiting for what is going to be a huge week for corporate earnings. But while the markets meandered, it was the night of the long knives in media land. A network head steps down, while 2 major on air personalities got whacked by their respective networks. This after a news organization folded last week and a defamation trial resulted in a rather large settlement to the plaintiffs. I have no idea where all this leads, but it’s what everyone is talking and tweeting about on social media. And I am nothing if not a man with my ear to ground when it comes to social media.
All right, enough of that nonsense. As for today, by the close the Dow Jones Industrial Average was up 66 points to finish the day at 33,875. The S&P 500 was up 3 points to close at 4,137. The Nasdaq Composite Index was down 35 points to close at 12,037. Gold was up $7 to trade at $1,998 per ounce, while oil was up $.88 to trade at $78.75 per barrel WTI.
As mentioned, it is a big week for corporate earnings so buckle up. So far this earnings season hasn’t moved the needle. Maybe this week will be different. Stay tuned.
Have a nice evening everyone.
