Friends
Stocks began the day in negative fashion today only to work their way into positive territory by midday. But as the afternoon wore on, back into negative territory we went and by the close, the Dow Jones Industrial Average was down 77 points to finish the day at 12,496. The S&P 500 was down 9 points to close at 1314. Gold was up $5.70 to trade at $1619 per ounce, and oil was down $.75 to trade near $82.50 per barrel WTI.
Most of the attention today was focused on J. P. Morgan’s CEO Jamie Dimon’s testimony before the Senate Banking Committee. Even though most thought that Dimon emerged from the session mostly unscathed, and J.P. Morgan’s stock rallied a bit, traders decided to sell stocks, no doubt worrying about the coming Greek Election amongst other things. The S&P 500 once again failed to get thru that 1325 resistance level, which has proved to be quite formidable.
We’ll see how tomorrow shakes out. Recent weeks sure are reminiscent of last year’s crazy volatility. Oh boy!
Have a nice evening everyone.
