Friends
As the Fed gathers for the first day of the December Federal Open Market Committee meeting tomorrow, we will see the release of the CPI report first thing in the morning. It’s expected that we will see a continuation of inflation moderating. In the meantime, stocks continue to grind higher without much resistance.
For the day, the Dow Jones Industrial Average was up 157 points to close at 36,404. The S&P 500 was up 18 points to close at 4,622. The Nasdaq Composite Index was up 28 points to close at 14,432. Gold was down $17 to trade at $1,996 per ounce, while oil was up $.21 to trade at $71.44 per barrel WTI.
Again, we don’t expect the Fed to change interest rates on Wednesday when they release the Fed Statement at 1:00 our time, but the guidance that they give as they look into next year and beyond will be of utmost interest to market participants. Stay tuned, it is likely to be an interesting week that will set the tone into the new year.
Have a nice evening everyone.
