Friends
The yield on the 10 year Treasury Note moved higher before the open today which led to stocks moving lower early in the trading session. Although those yields did move back down throughout the day, stocks stayed in negative territory. As we enter the end of the quarter, are market participants concerned about inflation and an overheating economy? Or, perhaps the head of the CDC scared everyone with her emotional/dramatic Covid-19 warnings yesterday. Whatever the case, market participants appeared tentative as we near the end of the quarter.
By the close, the Dow Jones Industrial Average was down 104 points to finish the day at 33,066. The S&P 500 was down 12 points to close at 3,958. The Nasdaq Composite Index was down 14 points to close at 13,045. Gold was down $30 to trade at $1,684 per ounce, while oil was down $1.22 to trade at $60.34 per barrel WTI.
Before we turn our attention to the second quarter, let’s first see how the first quarter finishes up tomorrow.
Have a nice evening everyone.
