Friends
After an early day selloff, stocks did recover some as the trading session wore on, actually breaking into positive territory before selling off again near the close. The President announced 25% tariffs on cars not made in the U. S., but we might be coming to the point where the market has already discounted much of the possible tariff ramifications. We will see, of course, but the markets will discount what they know, and the President has held firm on his tariff plans. Of course, April 2nd will be the big day, as we will then know if tariff concerns are already priced into the market. Next up will be 1st quarter earnings.
As for today, by the close the Dow Jones Industrial Average was down 155 points to finish the day at 42,299. The S&P 500 was down 18 points to close at 5,693. The Nasdaq Composite Index was down 94 points to close at 17,804. Gold was up $46 to trade at $3,069 per ounce, while oil was up $.22 to trade at $69.87 per barrel WTI.
We aren’t seeing any real conviction either way as we coast into quarter end. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
Jim
