Friends
With good earnings from a couple of money center banks, JP Morgan and Wells Fargo, and a decent report from Johnson & Johnson , traders celebrated a nice beginning to what figures to be a challenging earnings season. Stocks spent the day in positive territory, though there seemed to be a tone of caution to the proceedings.
By the close, the Dow Jones Industrial Average was up 59 points to finish the day at 18,036. The S&P 500 was up 3 to close at 2095. Gold was down $6 to trade at $1192 per ounce, while oil was up $1.22 to trade at $53.13 per barrel WTI.
This earnings season is likely to be somewhat volatile, but perhaps traders have discounted the headwinds like a stronger dollar already. Today’s J&J report may have given us the first glimpse into that. Stay tuned, we’ll let you know how the earnings season unfolds.
Have a nice evening everyone.
