Friends
It was a very quiet day for stocks despite a full slate of economic data and the release of the Senate version of a health care bill. Leading Indicators came in as expected, but unfortunately analysts weren’t expecting much. The FHFA house price index showed housing prices on the rise, and the weekly jobless claims number continues to confirm a strong demand for labor. A mixed bag, but not bad.
As for stocks, by the close the Dow Jones Industrial Average was down 12 points to finish the day at 21,397. The S&P 500 was down 1 point to close at 2,434. Gold was up $5 to trade at $1,251 per ounce, while oil was up $.22 to trade at $42.75 per barrel WTI.
We’ll get one more look at housing tomorrow morning when new home sales numbers are released. In the meantime, the market continues to rotate, most recently to healthcare and away from energy and retail, but the market averages are remaining somewhat steady. Let’s see how the week finishes out tomorrow.
