Friends
Market participants didn’t seem that concerned about the supposed “breakdown” of trade talk at the G7 meeting over the weekend. Of course traders have their eyes on the Korean summit that is about to take place, but let’s not take our eye off the ball of the FOMC meeting which begins tomorrow and concludes with the statement and a press conference on Wednesday. It appears that the committee is poised to raise rates a quarter of a percent on Wednesday.
As for today, stocks drifted higher and for the day the Dow Jones Industrial Average was up 6 points to close at 25,322. The S&P 500 was up 3 points to finish the day at 2782. Gold was up $1 to trade at $1,340 per ounce, while oil was up $.36 to trade at $66.10 per barrel WTI.
It’s going to be a busy week. Let’s see how the summit goes overnight.
Have a nice evening everyone.
