Friends
It was a difficult start to September for the bulls with questions about whether tariffs are legal or not and what outcome is actually better or worse for the markets. Stay tuned as that all plays out at the Supreme Court. In the meantime, September and October are seasonally a period of time that is often difficult or stocks.
As for today, by the close the Dow Jones Industrial Average was down 249 points to finish the day at 45,295. The S&P 500 was down 44 points to close at 6,415. The Nasdaq Composite Index was down 175 points to close at 21,279. Gold was up $84 to trade at $3,600 per ounce, while oil was up $1.62 to trade at $65.63 per barrel WTI.
Big tech names like Nvidia and Microsoft have had such a massive move higher in recent months it is not really a surprise or a bad thing that they give back a little of those gains. For that matter, the market as a whole could do with a pause that refreshes. So, for the moment we’ll see today’s weakness as nothing more than business as usual. But, of course, we will keep an eye out for anything more that may develop in this season that is often marked by market instability. Stay tuned.
Have a nice evening everyone.
