Friends
We saw a bit of a tug of war between the bulls and the bears today as stocks drifted back and forth with no real commitment in either direction. Economic data is getting a little better, but market participants are reluctant to see that as anything other than recovering from disastrous levels. And of course, there’s politics, plenty of politics.
Anyway, by the close the Dow Jones Industrial Average was up 34 points to finish the day at 27,931. The S&P 500 was down a fraction to close at 3,372. The Nasdaq Composite Index was down 23 points to close at 11,019. Gold was down $19 to trade at $1,951 per ounce, while oil was down $.11 to trade at $42.13 per ounce WTI.
Market participants will continue to monitor the progress, or lack thereof, of a new stimulus bill from Congress, as we now enter the dog days of summer. The bulls are still in possession of high ground, as the bears continue to be confounded by rising stock prices. Let’s see what next week has in store. Stay tuned.
Have a great weekend everyone.
