Friends
Today it was reported that the PCE (personal consumption expenditures) index rose 3.2% year-over -year. More importantly, over the last six months the index is up only 1.9% or actually below the Fed’s 2% target. What does that mean? Well, it sure would seem likely that the Fed will be able to follow through on a softer monetary stance as we look into 2024.
As for today, as would be expected it was a somewhat quiet day of trading with the Dow Jones Industrial Average down 18 points to close at 37,385. The S&P 500 was up 7 points to finish the day at 4,754. The Nasdaq Composite Index was up 29 points to close at 14,992. Gold was up $13 to trade at $2,064 per ounce, while oil was down $.23 to trade at $73.66 per barrel WTI.
Well, that is enough for now. I just want to wish everyone a very Merry Christmas from all of us at CHJ. Hopefully, you will be able to enjoy the spirit of the holiday season with your family and loved ones. We’ll be back with you on next Tuesday.
Merry Christmas Everyone.
