Friends
Higher bond yields and a rather ho hum beginning to earnings season helped send stocks lower today (except for the Nasdaq which was buoyed by Apple and Nvidia). I’ve been saying given a challenging earnings season, a challenging bond market, seasonality, and the election we might get a pause here for stocks. I’ve also been saying that wouldn’t be a bad thing and might set us up for a good year end. Whatever the case, stocks for the most part, struggled today.
By the close, the Dow Jones Industrial Average was down 344 points to finish the day at 42,931. The S&P 500 was down 10 points to close at 5,853. The Nasdaq Composite Index was up 50 points to close at 18,540. Gold was up $4 to trade at $2,734 per ounce, while oil was up $1.32 to trade at $70.54 per barrel WTI.
It’s only one day, but maybe we will enter a choppier market as earnings roll out over the next couple of weeks. Stay tuned.
Have nice evening everyone.
