Friends
Stocks were incredibly calm today, despite this afternoon’s political intrigue as General Kelly evidently didn’t want anything to do with the “Mooch”. Yes, despite the dismissal of the pending communications director the markets finished the month on a positive note. The losers for the day were the momentum stocks as Google, Facebook and Amazon all struggled. Nevertheless, it was a constructive month for the stock market, despite the whirl of craziness that dominates the headlines.
By the close, the Dow Jones Industrial Average was up 60 points to finish the day at 21,891. The S&P 500 was down 1 point to close at 2,470. Gold was up a fraction to trade at $1,275 per ounce, while oil was up $.48 to trade at $50.19 per barrel WTI.
We will get more earnings reports this week, including Apple which reports after the close tomorrow. We are in the dog days of summer now, but the stock market continues to grind higher, which is impressive given it’s a time of year when things tend to stall. Let’s see if we can move into August with the same momentum that we are finishing July. We’ll let you know how this week unfolds.
Have a nice evening everyone.
