Friends
Stocks were trying to hang in there today, but the weight of Boeing and Johnson & Johnson on the Dow finally forced the index to tumble decisively lower. Both of the blue chip names were dealing with special legal situations and nothing really earnings related. Nevertheless, led by those two giants, the market averages dipped into the close.
For the day, the Dow Jones Industrial Average was down 255 points to close at 26,770. The S&P 500 was down 11 points to finish the day at 2,986. Gold was down $4 to trade at $1,494 per ounce, while oil was down $.18 to trade at $53.75 per barrel WTI.
On the earnings front, Coca Cola delivered a report that investors found refreshing, while Netflix’s earnings release left investors a little in the dark. Next week will be a busy one for earnings and we’ll give you the lineup on Monday. Stay tuned.
Have a great weekend everyone.
