Friends
Another quiet day of trading with very little volatility. It appears that we are in a holding pattern at the moment. Yes, stocks are easing higher for the most part in the market averages, but it doesn’t feel like with much conviction. We had another good economic number as Factory orders came in as expected with the durable goods portion of the number showing strength.
As for stocks, by the close the Dow Jones Industrial Average was up 35 points to finish the day at 19,251. The S&P 500 was up 7 points to close at 2212. Gold was down $6 to trade at $1,170 per ounce, while oil was down $1.04 to trade at $50.75 per barrel WTI.
As mentioned, we continue to get decent to good economic data as we head into next week’s Fed meeting. Stocks continue to drift upward as the bulls continue to add deliberately to the Trump surge. At the moment any small dip that does occur seems to be snapped right up by under-invested money managers as the year end nears. Have we set a course for the remainder of the year? We will see.
Have a nice evening everyone.
