Friends
It was quite a reversal day for stocks. After a nice opening where it appeared that buyers were willing to step in and buy the recent weakness, market participants worrying that tomorrow’s jobs number would be too good began to sell. Yes, good news could mean even more delays with regards to the Fed and lowering interest rates.
For the day, the Dow Jones Industrial Average was down 530 points to close at 38,596. The S&P 500 was down 64 points to finish the day at 5,147. The Nasdaq Composite Index was down 228 points to close at 16,049. Gold was down $15 to trade at $2,300 per ounce, while oil was up $1.11 to trade at $86.54 per barrel WTI.
It looked like the bulls might get a reprieve, but instead the difficult week for stocks continue. Let’s see how tomorrow’s jobs number plays. Stay tuned.
Have a nice evening everyone.
Jim
