Friends
Today was a little different type of day. Once again, no major economic news, so stocks were left to their own devices today. After an attention getting 130 point drop in the Dow, stocks spent the rest of the session attempting to recover some of the losses. By the last hour of the session, stocks were drifting and the S&P 500 was back above 1500. The week has had a negative bias to it, but the bears have not quite been able to break the bull’s spirit entirely.
For the day, the Dow Jones Industrial Average was down 42 points to close at 13,944. The S&P was down 2 points (after falling below 1500) to finish the day at 1509. Gold was down $6 to trade at $1672 per ounce, while oil was down $.82 to trade at $95.80 per barrel WTI.
We’ll see how the week finishes tomorrow, but it looks like we could have our first down week of the year. February is often a difficult month. We’ll see if the bulls can get this thing back on track, or will the bears finally have something to growl about?
Have a nice evening everyone.
