Friends
Traders seem a bit confused as the 4th quarter begins, and who can blame them. We came out of the shoot yesterday with a bang only to falter into the close. Today we basically were trying to give back yesterday’s gains, but a late day rally helped limit the losses (and actually give the S&P a small gain). It seems likely, that until we get Friday’s employment report and then get earnings season kicked off next week, traders will be wary of making any major commitments.
For the day the Dow Jones Industrial average was down 32 points to close at 13,482. The S&P 500 was up 1 point to finish the day at 1445. Gold was down $7 to trade at $1776 (that was a good year) per ounce, while oil was down $.76 to trade at $91.72 per barrel WTI.
We’ll let you know if anything interesting develops before Friday, but it seems likely that there won’t be too much to get excited about until traders get a look at that employment report (expectations are for about 113,000 new jobs).
Have a nice evening everyone.
