Friends
Stocks continue to struggle early in 2024. Earnings season is sure to expose some warts but some of the problems are headline grabbing like the ones Boeing seem to have constantly. The Dow had some winners today, namely Home Depot, Goldman Sachs, Disney and Microsoft, but when a component like Boeing spits the bit the index really struggles. We’ve seen Apple struggle so far this year too and as a bellwether, that’s another difficult move for the market to overcome.
Anyway, as for today by the close the aforementioned Dow Jones Industrial Average was down 231 points to finish the day at 37,361. The S&P 500 was down 17 points to close at 4,765. The Nasdaq Composite Index was down 28 points to close at 14,944. Gold was down $19 to trade at $2,032 per ounce, while oil was down $.63 to trade at $72.05 per barrel WTI.
Next week is when earnings season really kicks into gear, so this shortened (and cold) trading week will be one where the bulls might find it difficult to find something to turn the negative tide at the moment. Let’s see how this week goes while setting up for a slew of earnings releases over the next couple of weeks.
Have a nice evening everyone.
