Friends
It was pretty quiet on the Western Front as market participants await the conclusion of the FOMC meeting tomorrow. Unfortunately, the JP Morgan CFO told the world the consumer seems to be weakening and that took what little steam the market had out of it. But maybe it’s good we aren’t rallying into the release of the Fed decision tomorrow.
As for today, the Dow Jones Industrial Average was down 179 points to close at 47,560. The S&P 500 was down 6 points to close at 6,840. The Nasdaq Composite Index was up 30 points to close at 23,576. Gold was up $23 to trade at $4,241 per ounce, while oil was down $.54 to trade at $58.34 per barrel WTI.
We often get a lot of volatility after the Fed release so let’s brace ourselves for some action over the next few days. We’ll let you know how it all plays out tomorrow.
Have a nice evening everyone.
