Friends
Market participants seemed to be bracing themselves for a week full of economic data and earnings reports. Oh, and of course a two day Fed meeting which begins tomorrow. Stocks drifted mainly in negative territory for most of the trading session, but it never felt like the bears really had much conviction. Of course, that could change as the week unfolds.
As for today, by the close the Dow Jones Industrial Average was down 23 points to finish the day at 17,623. The S&P 500 was down 3 points to close at 2071. Gold was up a fraction to trade at $1163 per ounce, while oil was down $.68 to trade at $43.92 per barrel WTI.
In addition to the FOMC meeting (we’ll get the statement Wednesday afternoon), we have a full slate of corporate earnings reports including giants like Apple and Exxon Mobil. On the economic front we’ll get Case-Shiller, PMI services and Consumer Confidence tomorrow, GDP and jobless claims on Thursday, and Personal Income and Outlays, Chicago PMI and the Employment Cost Index on Friday. Buckle up, it should be an active week.
Have a nice evening everyone.
