Friends
Stocks moved lower throughout the day, but more than a selling surge it appeared to be a buyers strike. Perhaps worries over the reports of virus variants gaining strength and infection rates increasing put market participants in somewhat of a let’s wait and see mood. Earnings season is off to a fine start, but share price reactions have been less than stellar.
For the day, the Dow Jones Industrial Average was down 299 points to close at 34,687. The S&P 500 was down 32 points to finish the day at 4,327. The Nasdaq Composite Index was down 115 points to close at 14,427. Gold was down $17 to trade at $1,811 per ounce, while oil was down $.11 to trade at $71.53 per barrel WTI.
We will see a lot of corporate earnings reports over the next two weeks. First up next week will be Netflix, IBM, Coca-Cola, Verizon, ATT, Dow, Honeywell, Schlumberger, American Express and United Airlines, just to mention a few. In the meantime the mood changed as the week wore on. Let’s see if that continues next week despite what are likely to be some very good earnings reports.
Have a great weekend everyone.
