Friends
Stocks were quietly higher as market participants are hopeful that tomorrow’s CPI inflation number will be benign thus giving the Fed a clearer path to eventually lowering the Fed Funds rate. Of course, these economic data points are tricky, so we’ll see how the markets react to whatever the number is.
As for today, by the close the Dow Jones Industrial Average was up 105 points to finish the day at 42,866. The S&P 500 was up 32 points to close at 6,038. The Nasdaq Composite Index was up 123 points to close at 19,714. Gold was down $1 to trade at $3,354 per ounce, while oil was down $.56 to trade at $64.73 per barrel WTI.
Tomorrow’s inflation data should set the tone for the rest of the week. We’ll let you know how it all plays out tomorrow. Stay tuned.
Have a nice evening everyone.
