Friends
Stocks were mixed today, as tariff concerns offset continuing economic strength. This week is the 10 year anniversary of the 2008 financial crises, and pundits are frantically looking for reasons and signs that the next crises is right around the corner. Sure, we have things to worry about when it comes to stocks. Heck, we’ve had things to worry about for the last ten years. It would take an hour to list them all. Indeed, this market has often been called the most unloved bull market in history. A recent survey of Americans referenced in this week’s Barron’s showed that almost half of those surveyed believe that stocks have been flat for the last ten years. 18% believe that stocks have actually been down for the past ten years. Since the March 9, 2009 low of 666 on the S&P 500 stocks have risen to nearly 2900 on the S&P. Evidently, not only has this been a hated bull market, it appears many have completely ignored it.
As for today, by the close the Dow Jones Industrial Average was down 59 points to finish the day at 25,857. The S&P 500 was up 5 points to close at 2877. Gold was down a fraction to trade at $1,200 per ounce, while oil was down $.24 to trade at $67.51 per barrel WTI.
As has been discussed, September is seasonally often a difficult time for stocks. But, the economy is strong and earnings are good. Tariff talks continue to send ripples of fear through the trading community, and one never knows what headline or tweet is coming next, but for 10 years now stocks have continued to forge ahead – whether anyone has noticed or cared.
Have a nice evening everyone.
