Friends
Well, stocks didn’t go up much today but at least they didn’t go down. Given the headlines around the world, the fact that markets remained calm is somewhat surprising. With coup attempts and social unrest domestically one might think that market participants would be on edge. But it appears that the markets are in their own world right now and oblivious to the upheaval around the world.
For the day the Dow Jones Industrial Average was up 16 points to finish the day at 18,533. The S&P 500 was up 5 points to close at 2166. Gold was up $4.10 to trade at $1331 per ounce, while oil was down $ .69 to trade at $45.26 per barrel WTI.
We are early in this all important earning season as valuations continue to be stretched as markets push to record highs. So far the money center banks appear to have cleared the low bar set for them. Let’s see how the other sectors fair as this earnings season continues.
Have a nice evening everyone.
