Friends
Geopolitical drama continued today as the Russian foreign minister and Secretary of State Rex Tillerson held a press conference after Tillerson reportedly met with Vlad Putin earlier in the day. Then a report that in a Wall Street Journal interview President Trump indicated that the dollar strength is causing trade problems, added to the headline news that traders were dealing with today. As we have mentioned, market participants have been and will continue to be dealing with these political headlines for the foreseeable future. Starting tomorrow with some of the money center banks reporting, investors will have an earning season to digest.
As for today, by the close the Dow Jones Industrial Average was down 59 points to finish the day at 20,591. The S&P 500 was down 8 points to close at 2,344. Gold was up $9 to trade at $1,283 per ounce, while oil was down $.51 to trade at $52.89 per barrel WTI.
As mentioned, earnings season kicks off tomorrow. Let’s see what the big banks have to say as we prepare for an avalanche of earnings reports over the next few weeks. Stay tuned.
Have a nice evening everyone.
