Friends
After last week’s volatility it was going to be interesting to see how stocks got out of the starting gate this week. Well, it was another volatile day of trading. After a soft open, stocks rallied into positive territory mid-morning. But by lunchtime stocks were decidedly in negative territory with the Dow sporting a 233 point loss. But, as the afternoon wore on the losses were erased (other than Nasdaq) and the Dow was actually able to post a gain.
By the close, the Dow Jones Industrial Average was up 39 points to finish the day at 26,486. The S&P 500 was down a point to close at 2,884. Gold was down $14 to trade at $1,191 per ounce, while oil was down $.14 to trade at $74.20 per barrel WTI.
Amongst all of this volatility, we now will enter earnings season later in the week with reports from the banks including J.P. Morgan Chase, Citi and Wells Fargo. Though the economy is good and earnings are strong, everyone seems to be bracing for the worst. Maybe things will slow and maybe we are at peak earnings. Then again- maybe not.
Have a nice evening everyone.
