Friends
Stocks, well at least the Dow, continue to struggle some despite last Friday’s late surge. Between trading glitches and concerns that the economy is definitely showing signs of slowing down the bulls really didn’t have much in their favor today. Bond yields did move lower but not for a good reason.
By the close, the Dow Jones Industrial Average was down 115 points to finish the day at 38,571. The S&P 500 was up 5 points to close at 5,283. The Nasdaq Composite Index was up 93 points to close at 16,828. Gold was up $20 to trade at $2,366 per ounce, while oil was down $2.95 to trade at $74.04 per barrel WTI.
We find ourselves in a bit of a soft spot with regards to things/headlines that could move the markets. The next earnings season is a month and a half away and the Fed meeting next week is not likely to produce any interest rate policy changes. But don’t be surprised if things coming from out of the blue are the market movers for a while. Stay tuned.
Have a nice evening everyone.
