Friends
Stocks look to be taking on a slightly negative tone as we work our way into September. Nothing of any real consequence, but it appears that market participants are a little bit hesitant to add to long positions at the moment. We are still trying to determine if there is any chance that the Fed will get feisty at the upcoming September FOMC meeting, but it appears less likely than thought a week or two ago. Other than that stocks are looking for a catalyst.
As for today, by the close the Dow Jones Industrial Average was down 46 points to finish the day at 18,479. The S&P 500 was down 4 points to close at 2,181. Gold was down $7 to trade at $1,341 per ounce, while oil was up $1.95 to trade at $47.45 per barrel WTI (shares of oil companies were the stock winners today).
Other than Fed officials giving speeches (oh, and how that helps), there is not much to consider on the economic calendar tomorrow. Let’s see if the negative drift that we’ve experienced the last few days continues as the week comes to a close. Stay tuned.
Have a nice evening everyone.
