Friends,
Stocks have hit a bit of a headwind as we wind our way into quarter end, with AI names finally running out of steam. We’ve have seen these brief pauses in the past couple of years with regards to the high flying tech/AI names, but a move to higher highs has followed. We’ll see if this time is any different.
As for today, by the close the Dow Jones Industrial Average was down 171 points to finish the day at 46,121. The S&P 500 was down 18 points to close at 6,637. The Nasdaq Composite Index was down 75 points to close at 22,497. Gold was down $52 to trade at $3,762 per ounce, while oil was up $1.42 to trade at $64.83 per barrel WTI.
The bulls have earned the benefit of the doubt for now. A couple of quietly down days does not change the current narrative. Let’s see if the bulls can regain the momentum as quarter end nears. Stay tuned.
Have a nice evening everyone.
