Friends
It was another curious day for stocks as once again we are seeing intraday reversals and rotations. Today, after some less than stellar reports from a couple of major banks and a disappointing retail sales number, stocks sold off early and often. But, later in the session the beleaguered Nasdaq rallied into positive territory. The S&P 500 also made it back into positive territory, and the Dow at least was able to lessen the damage.
By the close, the Dow Jones was down 201 points to finish the day at 35,911. The S&P 500 was up 3 points to close at 4,662. The Nasdaq Composite Index was up 86 points to close at 14,893. Gold was down $4 to trade at $1,816 per ounce, while oil was up $2.09 to trade at $84.21 per barrel WTI.
It was quite a wild ride for stocks this week, not only day to day, but hour to hour. Earnings season will be in full swing over the next few weeks. Let’s see what corporate America has to say for itself.
Just a reminder, markets are closed Monday in observance of Martin Luther King, Jr. Day.
Have a great weekend everyone.
