Friends
It was another day where sectors of the market moved in different directions. Boring, mundane shares of companies that sell day to day products had a pretty nice day. Shares of companies that represent more of the future tumbled. Ok, that was a bit oversimplified, but we are seeing many of the high flying names of the past year really come under a lot of selling pressure (some have for a while). While the Dow moved along the flatline today, the Nasdaq was down a whopping 2.50%. So the heightened volatility of the past few weeks continues.
By the close, the Dow Jones Industrial Average was down 30 points to finish the day at 35,896. The S&P 500 was down 41 points to close at 4,668. The Nasdaq Composite Index was down 385 points to close at 15,180. Gold was up $34 to trade at $1,798 per ounce, while oil was up $1.12 to trade at $ 71.99 per barrel WTI.
As mentioned, this heightened volatility that we are seeing makes it impossible to determine any kind of trend into the end of the year. Let’s first see how the week finishes out tomorrow. Buckle up and keep hands and feet inside the ride at all times.
Have a nice evening everyone.
