Friends
Another volatile session to start the week. Stocks tumbled throughout the morning with the Dow falling 500 points, breaking 24,000 for some time. The S&P, in the meantime pierced the 2600 support level and fell quickly to February’s lows. But, as the day wore on, some bold buyers stepped up to buy, and the bruising was over for the time being.
For the day, the Dow Jones Industrial Average was up 34 points to close at 24,423. The S&P 500 was up 4 points to finish the day at 2637. Gold was down $3 to trade at $1,249 per ounce, while oil was down $1.92 to trade at $50.69 per barrel WTI.
As we have mentioned, sentiment has turned decidedly negative. Concerns about the economy, the Fed, Brexit, tariffs, and of course politics has the investment community on edge. The bulls were able to make a stand and turn the tide today. Let’s see how the week plays out before we make any definitive declarations.
Have a nice evening everyone.
