Friends
Stocks were unable to add to yesterday’s gains as trading was rather quiet on this day after the Fed meeting. It appears that market participants are still mainly concerned about tariffs which are scheduled to be introduced on April 2nd. Though I was hoping for a quarter ending rebalancing rally, the fear of the effects of tariffs may keep a lid on things for a while. We will see.
As for today, by the close the Dow Jones Industrial Average was down 11 points to finish the day at 41,953. The S&P 500 was down 12 points to close at 5,662. The Nasdaq Composite Index was down 59 points to close at 17,691. Gold was up $11 to trade at $3,053 per ounce, while oil was up $1.14 to trade at $68.30 per barrel WTI.
It’s not surprising that rallies are looked at suspiciously by market participants. The bears hold the high ground at the moment and until the bulls can prove themselves, investors will remain cautious. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
Jim
