Friends
Stocks spent time in both positive and negative territory, but by the close, the bears slightly held the upper hand. It was one of those days that it appeared traders didn’t really know where to find their cues. Fed officials are now quiet until next week’s meeting and earnings season is behind us, so technical trading levels might dictate some of the back and forth we are seeing as bulls and bears both defend their turf.
By the close, the Dow Jones Industrial Average was down 32 points to finish the day at 18,034. The S&P 500 was down 1 point to close at 2125. Gold was up $2 to trade at $1,325 per ounce, while oil was down $1.27 to trade at $43.63 per barrel WTI.
Oil’s weakness showed up in lower prices for energy shares, which were the biggest drag on the averages today. Bond prices stopped going down today, so that also led to some “stability” in stock prices. All in all, after 3 tumultuous trading sessions, today’s session was relatively quiet. Let’s see if things are calming down a bit or will the action resume tomorrow. We’ll let you know.
Have a nice evening everyone.
