Friends
After a PPI number that was a little hotter than expected, stocks moved lower at the open. Buyers stepped in and moved the market averages back into positive territory as the trading session wore on, but by the close the bulls were hanging on for dear life.
For the day, the Dow Jones Industrial Average was up 105 points to close at 35,281. The S&P 500 as down 4 points to finish the day at 4,464. The Nasdaq Composite Index was down 76 points to close at 13,644. Gold was down $3 to trade at $1,945 per ounce, while oil was up $.29 to trade at $83.11 per barrel WTI.
It’s been a struggle for the bulls since the beginning of the month. We are seeing more intraday volatility as market averages test various technical support levels, so it will be interesting to see if the bears can get things going their way as we head into a seasonally more difficult time of the year for stocks. We’ll be back at it next week. In the meantime…
Have a great weekend everyone.
