Friends
The bulls tried to muster a nice rally this morning, but when a less than enthusiastic consumer confidence number came out at 9:00 the rally fizzled, and stocks struggled to find a footing the rest of the trading session.
By the close, the Dow Jones Industrial Average was up 39 points to finish the day at 33,670. The S&P 500 was down 21 points to close at 4,327. The Nasdaq Composite Index was down 166 points to close at 13,407. Gold was up $58 to trade at $1,941 per ounce, while oil was up $4.77 to trade at $87.68 per barrel WTI.
This morning’s earnings releases from money center banks JP Morgan, Wells Fargo and Citi all were a bit better than expected, which helped fuel the initial surge in stocks, but by the end of the day there just wasn’t much for the bulls to be encouraged about. Earnings season kicks into high gear over the next few weeks so stay tuned to this channel for details and updates.
Have a great weekend everyone.
