Friends
Another quiet day of trading resulted in another gain for the market averages. Stocks held onto early gains and basically coasted during the afternoon portion of the trading session. Again, earnings have been better than expected, notably Microsoft enjoying an earnings bounce today after a good report. Again, it’s early, but so far so good.
As for today’s numbers, by the close the Dow Jones Industrial Average was up 36 points to finish the day at 18,595. The S&P 500 was up 9 points to close at 2173. Gold was down $17 to trade at $1,314 per ounce, while oil was up $.29 to trade at $44.85 per barrel WTI.
While the political theater unfolds in front of us this week and next, earnings season is providing the catalysts for market movements this week. It appears that Brexit is off the radar for the moment and that market participants are focused on corporate earnings and things that should be the determinant for stock prices. Let’s see if these share prices can be justified.
Have a nice evening everyone.
