Friends
It was a very quiet day of trading as investors wait for this week’s Fed decision on interest rates. The FOMC meeting begins tomorrow and will wrap up on Wednesday with the Fed statement and subsequent press Fed Chair press conference. On the earnings front, we get a look at Apple’s numbers on Thursday. That will be one that everyone is watching. For perspective on how important Apple is to the market, Apple and Microsoft account for nearly 40% of the S&P 500’s gains so far this year.
As for today, by the close the Dow Jones Industrial Average was down 46 points to finish the day at 34,051. The S&P 500 was down 1 point to close at 4,167. The Nasdaq was down 13 points to close at 12,212. Gold was down $10 to trade at $1,988 per ounce, while oil was down $1.03 to trade at $75.75 per barrel WTI.
Even though inflation has been trending down in general, there are still trouble spots that the Fed will be considering when making their decision on rates this week. It should be an interesting week for traders. We’ll let you know how it all unfolds.
Have a nice evening everyone.
