Friends
The first trading session of the new quarter resembled what we have seen for a good portion of the year. Intra-day volatility was back on display, as an up opening quickly turned into a more than 200 point drop in the Dow. As the trading session wore on stocks rallied back near positive territory and finished the day at about break even.
By the close, the Dow Jones Industrial Average was down 12 points to close at 16,272. The S&P 500 was up 3 points to finish the day at 1923. Gold was down $1 to trade at $1113 per ounce, while oil was down $.13 to trade at $44.96 per barrel WTI.
On the economic front the PMI and ISM manufacturing numbers were both uninspiring, but motor vehicle sales soared. Again, a mixed economic message. Of course, we get the jobs report tomorrow and the consensus is that 203,000 new jobs were created last month and the unemployment rate will be 5.1%. Let’s see how the end of the week plays out tomorrow.
Have a nice evening everyone.
