Friends
It was another difficult day for stocks and that has become the theme for the first month of 2024. Interestingly though, despite stocks moving lower over the past couple of weeks it has been very orderly and calm. Is that a good thing? Well, for now it is. The narrative that the Fed will lower rates this year and the economy is likely to avoid recession is still prominent, but investors are wondering was that all priced in by year end.
As for today, by the close the Dow Jones Industrial Average was down 94 points to finish the day at 37,266. The S&P 500 was down 26 points to close at 4,739. The Nasdaq Composite Index was down 88 points to close at 14,855. Gold was down $21 to trade at $2,009 per ounce, while oil was up $.30 to trade at $72.70 per barrel WTI.
Again, earnings season really kicks in next week, so we still have a lot of potential volatility ahead of us. Stay tuned.
Have a nice evening everyone.
