Friends
The bears had the upper hand for a short while this morning as stocks fell about 100 Dow points, but the bulls chipped away at the losses and by the close had whittled away most of the damage. Worries that the Chinese will no longer be buying our bonds and rumors that President Trump is about to pull the U.S. out of NAFTA helped fuel the bears assault, but as has been the case for a year now, they just were not able to gain any traction.
By the close, the Dow Jones Industrial Average was down 16 points to finish the day at 25,369. The S&P 500 was down 3 points to close at 2,748. Gold was up $5 to trade at $1,318 per ounce, while oil was up $.45 to trade at $63.41 per barrel WTI.
We’ll have our quarterly outlook piece to you by the end of the week. Stay tuned.
Have a nice evening everyone.
