Friends
We had a slight reverse of fortune today as the NASDAQ posted gains while the Dow slumped just a bit. The shares of Biogen were the big winners as it was announced that the FDA approved the biotech firm’s Alzheimer’s drug, which is very exciting news. The markets in general, though, experienced a somewhat quiet day of trading.
By the close, the Dow Jones Industrial Average was down 126 points to finish the day at 34,630. The S&P 500 was down 3 points to close at 4,226. The Nasdaq Composite Index was up 67 points to close at 13,881. Gold was up $10 to trade at $1,902 per ounce, while oil was down $.42 to trade at $69.20 per barrel WTI.
The economic data point that is likely to receive the most attention this week is the CPI number released on Thursday. Inflation seems to be the item most on investors’ minds at the moment. Is it temporary or will it be long lasting? That is the question both the Fed and market participants want to know. Stay tuned.
Have a nice evening everyone.
