Friends
It was a difficult day for stocks with all of the market averages in negative territory for the trading session. Buyers simply seemed to be uninterested as there really wasn’t any catalyst to help move stock prices higher.
By the close, the Dow Jones Industrial Average was down 240 points to finish the day at 44,401. The S&P 500 was down 37 points to close at 6,052. The Nasdaq Composite Index was down 123 points to close at 19,736. Gold was up $20 to trade at $2,680 per ounce, while oil was up $.95 to trade at $68.15 per barrel WTI.
It will be interesting to see how stocks fare as we move closer towards the end of the year. It’s been a great run for the bulls, but does anyone want to buy at these elevated prices right now? On the other hand, investors are reluctant to sell and take gains before year end if they don’t have to. The bulls still hold the high ground, but it doesn’t appear that any battles are imminent.
Have a nice evening everyone.
Jim
