Friends
Late Friday Moody’s Investor Services lowered the U. S. credit rating outlook to negative from stable. Citing large fiscal deficits, the ratings agency kept a AAA rating on U. S. debt but basically indicated they are keeping a sharp eye on the proceedings. Aren’t we all? Anyway, stocks were mostly quiet today with mixed results from the market averages. In the meantime all eyes will be on inflation reports this week starting with the all-important CPI release tomorrow morning.
As for today, by the close the Dow Jones Industrial Average was up 54 points to finish the day at 34,337. The S&P 500 was down 3 points to close at 4,411. The Nasdaq Composite Index was down 30 points to close at 13,767. Gold was up $13 to trade at $1,950 per ounce, while oil was up $1.37 to trade at $78.54 per barrel WTI.
It did not appear that traders wanted to get much involved before tomorrow’s CPI report. I suppose they will after they see the data. Stay tuned.
Have a nice evening everyone.
