Friends
Earnings season stubbed its toe just a little bit today, as releases from Amazon, ExxonMobil and Starbucks all disappointed market participants. Stocks in general traded with a negative bias for most of the session, but as has been the case lately, not with much conviction. Despite political theater here at home (late night health care votes and cursing White House officials) and abroad (North Korea firing off missiles), markets continue to appear calm, cool and collected.
By the close, the Dow Jones Industrial Average was up 33 points to finish the day at 21,830. The S&P 500 was down 3 points to close at 2,472. Gold was $9 to trade at $1,269 per ounce, while oil was up $.69 to trade at $49.73 per barrel WTI.
This was a very busy week for earnings, and for the most part the results were good, but we have more to come next week including Apple. We have seen a very mixed picture with regards to reactions to earnings, regardless of whether the expectations were met or not. That doesn’t surprise us given that we have a market that sure is not cheap. Let’s see what next week has in store for us.
Have a great weekend everyone. Stay cool.
