Friends
Stocks finally took a breather today, and for the bulls that is probably a good thing. It’s better to digest gains along the way than to have stocks move higher in a straight line without any pauses.
For the day, the Dow Jones Industrial Average was down 107 points to close at 34,301. The S&P 500 was down 16 points to finish the day at 4,409. The Nasdaq Composite Index was down 93 points to close at 13,689. Gold was down $1 to trade at $1,969 per ounce, while oil was up $1.18 to trade at $71.80 per barrel WTI.
It was a busy week with inflation data and the Fed meeting dominating the headlines. Now we start heading into the dog days of summer. Will momentum carry stocks higher or is it time for things to cool down just a bit? The markets are closed Monday for Juneteenth, so we’ll be back at it on Tuesday.
Have a great Father’s Day weekend everyone.
