Friends
It appeared that the bulls were going to rule the day as stocks rallied nicely at midday, but as the afternoon wore on the market averages slumped a bit. The ISM manufacturing number was a little better than expected, and coupled with Greece not having imploded over the weekend; it appeared that the bulls might be able to get something going.
As it was, by the close the Dow Jones Industrial Average was up 29 points to finish the day at 18,040. The S&P was up 4 points to close at 2111. Gold was up a fraction to trade at $1190 per ounce, while oil was down a fraction to trade at $60.24 per barrel WTI.
This week will be mostly about employment as we get the ADP private sector payroll information on Wednesday, jobless claims on Thursday, and the non-farm payroll number on Friday. In addition we’ll get Factory Orders tomorrow and ISM non-manufacturing on Wednesday. We’ll let you know how it all unfolds.
Have a nice evening everyone.
