Friends
What a sleepy day in the markets. The FOMC meeting begins tomorrow, and it appears market participants are waiting for the outcome before making any new moves. Remember, the consensus is that the Fed will pause at this meeting and not raise rates at this time. I’m sure they will leave open the possibility of further rate hikes, but as always, they will indicate that they will remain data dependent.
As for today, by the close the Dow Jones Industrial Average was up 6 points to finish the day at 34,624. The S&P 500 was up 3 points to close at 4,453. The Nasdaq Composite Index was up 1 point to close at 13,710. Gold was up $8 to trade at $1,954 per ounce, while oil was up $.91 to trade at $91.68 per barrel WTI.
As mentioned, the Fed’s FOMC meeting will begin tomorrow and conclude with the official statement release and Fed Chair press conference on Wednesday. We will fill you in on all the proceedings as the week progresses.
Have a nice evening everyone.
