Friends
Traders seemed to be waiting all day for the much ballyhooed rebalancing of the S&P 500 at the close of trading. As it turned out, stocks had another day of drifting until the last ten minutes, and even then it wasn’t much of a move. For the day, the Dow Jones Industrial Average was down only 17 points to finish the day at 13,579. The S&P 500 was almost flat to close at 1460 once again. Gold was up $5 to trade at $1775 per ounce, while oil was up $.66 to trade at $93.08 per barrel WTI.
Yes, it was a quadruple witching day, when options and futures on stocks and indices expire, but for the most part it was another day of nothing happening. Next week marks the end of the 3rd quarter, so we might see a little chase for performance, but until earnings season begins, we might be in for a quiet period.
Have a great weekend everyone.
