Friends
The tug of war between the fear of missing out (FOMO) and the fear of buying high continues as stocks simply continue to meander into the holiday season. Despite the mixed inflation and employment data recently, it is still almost certain that the Fed will lower the Fed Funds rate next week. The big question seems to be what happens after that?
As for today, by the close the Dow Jones Industrial Average was down 86 points to finish the day at 43,828. The S&P 500 was down a fraction of a point to close at 6,051. The Nasdaq Composite Index was up 23 points to close at 19,926. Gold was down $41 to trade at $2,668, while oil was up $1.21 to trade at $71.23 per barrel WTI.
Next week market participants will be focused on the Fed and Wednesday’s decision on interest rates. In the meantime, though the bulls still hold the high ground, there isn’t much activity going on up on that hill.
Have a great weekend everyone.
Jim
