Friends
Traders were tentative during Monday’s trading as everyone awaits the beginning of earnings season. We have already seen many companies warn that this quarter will be weaker than expected, and we will be monitoring analysts’ conference calls as companies are sure to use the weakness in Europe and a slowing China as reasons coming quarters may suffer. The key, as always, is- are stock prices already reflecting the likely reduction of earnings estimates going forward into the next couple of quarters?
For the day, the Dow Jones Industrial Average was down 36 points to close at 12,736. The S&P 500 was down 2 points to finish the day at 1352. Gold was up $9 to finish the day trading near $1588 per ounce, and oil was up $1.32 to finish near $85.77 per barrel WTI.
We’ll let you know how the week plays out. Also, look for our 3rd quarter outlook which will be e-mailed tomorrow. Of course, a printed copy will be included with your 2nd quarter summary statement.
Have a nice evening everyone.
