Friends
While the business media focused on a Family Office/Hedge Fund that is blowing itself up by having used outrageous leverage to accumulate certain stock positions, the market pretty much shrugged it off and continued to simply chug along. Interest rates ticked up, so naturally the Nasdaq dropped (although Facebook, Apple and Google all posted gains), but the staples helped the Dow post a gain.
By the close, the Dow Jones Industrial Average was up 98 points to finish the day at 33,171. The S&P 500 was down 3 points to close at 3,971. The Nasdaq Composite Index was down 79 points to close at 13,059. Gold was down $22 to trade at $1,712 per ounce, while oil was up $.59 to trade at $61.55 per barrel WTI.
With the markets closed for Good Friday it is a shortened trading week, and of course Wednesday marks the end of the first quarter. At the moment the markets seem to be content and able to keep itself occupied with rotation. Let’s see how the week plays out.
Have a nice evening everyone.
