Friends
It was a mixed day for stocks with Nasdaq doing well while the Dow slumped at bit. Retailers were winners today with the likes of Walmart, Target, Costco, TJX, Home Depot and Best Buy all doing well. The industrial and material names that had been showing relative strength lately did cool off a bit today, as did the banks which had also seen a little life in recent trading sessions.
By the close, the Dow Jones Industrial Average was down 86 points to finish the day at 27,844. The S&P 500 was up 9 points to close at 3,381, while the Nasdaq Composite Index was up 110 points to close at 11,129. Gold was up $41 to trade at $1,991 per ounce, while oil was up $.81 to trade at $42.82 per barrel WTI.
On the political front, the Democrats will be holding their mainly virtual convention this week, but it’s not clear if that will have much bearing on stocks for the week. As mentioned last week, we are in the final dog days of summer, but so far the bulls are surviving quite well as rotation continues to keep things interesting for traders. Let’s see how the week unfolds. Stay tuned.
Have a nice evening everyone.
