Friends
It was another difficult trading session for stocks as tensions mount along the Ukraine border. There have been some good earnings reports this week, but they are not taking precedence at the moment. The first cloud that must dissipate is the Russian/Ukraine tensions. After that we still have the Fed, inflation, and Covid to deal with. Have I mentioned that there are a few headwinds for investors to deal with at the moment?
By the close the Dow Jones Industrial Average was down 622 points to finish the day at 34,312. The S&P 500 was down 94 points to close at 4,380. The Nasdaq Composite Index was down 407 points to close at 13,716. Gold was up $29 to trade at $1,900 per ounce, while oil was down $2.02 to trade at $91.64 per barrel WTI.
It has been another volatile week. We were working on an up week for stocks until today’s weakness, but every move in any direction appears temporary for now. Let’s see how the week finishes up tomorrow.
Stay tuned.
Have a nice evening everyone.
