Friends
Big tech names recovered from yesterday’s selloff- Apple, Microsoft, Nvidia for example, but in general it was another day of weakness for stocks. We saw that job openings have begun to shrink some, (what the Fed wants by the way) another example that the economy is cooling but not collapsing. We were looking for a pause that could hopefully refresh and so far, this week, it looks like we are getting it. Hopefully, it refreshes instead of discouraging.
As for today, by the close the Dow Jones Industrial Average was down 79 points to finish the day at 36,124. The S&P 500 was down 2 points to close at 4,567. The Nasdaq Composite Index was up 44 points to close at 14,229. Gold was down $5 to trade at $2,037 per ounce, while oil was down $.68 to trade at $72.36 per barrel WTI.
We get a look at ADP private payroll numbers tomorrow and the big non-farm payroll number on Friday. In the meantime, let’s hope this is simply a refreshing pause we are experiencing this week. Stay tuned.
Have a nice evening everyone.
