Friends
It was a quiet start to this holiday shortened trading week. With no glaring headlines to deal with, market participants were mostly uninterested in making any major commitments as the market averages drifted while the long end of the yield curve sold off some. A few stocks that haven’t seemed to have a down day in weeks finally saw some selling, namely Meta, Costco, and Walmart. But in the end the market averages were able to eke out small gains.
By the close, the Dow Jones Industrial Average was up 10 points to finish the day at 44,556. The S&P 500 was down up 14 points to close at 6,129. The Nasdaq Composite Index was up 14 points to close at 20,041. Gold was up $51 to trade at $2,952 per ounce, while oil was up $1.07 to trade at $71.81 per barrel WTI.
We are in a bit of quieter moment, as we have already seen this month’s jobs and inflation data and the bulk of earnings season is over. The next Fed Meeting is many weeks away and it will be some time before we really see the fiscal policy changes. I’m sure something will get the attention of market participants soon, but for the moment all is quiet on the market’s front.
Have a nice evening everyone.
Jim
