Friends
Talk about “sell the news”. Despite another blow out quarter by this year’s starlet NVIDIA, stocks gave up early gains and retreated as they have done so often this month. Now, tomorrow morning’s comments from Fed Chair Powell will be the focus of market participants.
As for today, by the close, the Dow Jones Industrial Average was down 373 points to finish the day at 34,099. The S&P 500 was down 59 points to close at 4,376. The Nasdaq Composite Index was down 257 points to close at 13,463. Gold was down $3.20 to trade at $1,944 per ounce, while oil was up $.02 to trade at $78.92 per barrel WTI.
The Fed Chair has a bit of a tight rope to walk in the morning with his remarks about the Fed’s intentions with regards to interest rates going forward. We’ll let you how the week finishes out tomorrow.
Have a nice evening everyone.
