Friends
Have I mentioned that the market seems to have case of amnesia from day to day? Market participants apparently are concerned about what might transpire over the weekend with regards to Greece, and to that end they really didn’t feel like buying stocks ahead of potential news. Quadruple witching (stock and index futures, as well as stock and index options all expired today) added to the uncomfortable tone of the trading session, and by the close stocks were firmly stuck in negative territory.
For the day, the Dow Jones Industrial Average was down 101 points to close at 18,014. The S&P 500 was down 11 points to finish the day at 2109. Gold was down $1 to trade at $1200 per ounce, while oil was down $.89 to trade at $59.56 per barrel WTI.
Yes, we are concerned about Greece again. Let me correct that – we always are concerned about Greece. I know in the big scheme of things Greece seems/is insignificant, but investors are concerned about the collateral damage that could occur in the Eurozone. So it’s not just Greece, but what could come after. We’ll be here on Monday to let you know how the week begins.
Have a great weekend everyone.
