Friends
August continues to be a difficult month for stocks. We’ve seen a few good days sprinkled in here and there, but for the most part we have seen downward pressure on stocks for weeks now. Market participants are preparing for NVIDIA’s earnings release after the close tomorrow and then Fed Chair Powell’s comments at Jackson Hole on Friday morning.
In the meantime, stocks continue to struggle as for the day the Dow Jones Industrial Average was down 174 points to close at 34,289. The S&P 500 was down 12 points to finish the day at 4,387. The Nasdaq Composite Index was up 8 points to close at 13,505. Gold was up $2 to trade at $1,925, while oil was down $.47 to trade at $80.25 per barrel WTI.
We saw some ugly declines in retail stocks today with Dick’s plummeting on a shaky outlook, and Macy’s down despite what looked like ok earnings. Tis the season for volatile stock markets.
Have a nice evening everyone.
