Friends
After yesterday’s positive interpretation of the Fed minutes, St. Louis Fed President Jim Bullard was on television this morning indicating that the markets somewhat rosy interpretation might have been slightly misguided. Basically Bullard implied that perhaps there will not be immediate Fed easing. The result was reversing what looked like a positive opening for stocks into a decisively negative day.
For the day, the Dow Jones Industrial Average was down 115 points to close at 13,057. The S&P 500 closed down 11 points to finish the day at 1402. Gold was up $32 to trade at $1,672 per ounce, while oil was down $1.21 to trade at $96.03 per barrel WTI.
We’ll see tomorrow if for the week the bulls can keep the S&P 500 above 1400. We’ll let you know how the week ends.
Have a nice evening everyone.
