Friends
The stock market seemed to run out of gas today, except for a few tech names and some retailers. Target had better than expected earnings today, but Lowes had a disappointing quarter. Walmart will release its earnings report tomorrow, so we’ll see how the largest brick and mortar store is faring. With this week’s pleasant surprise in the retail sales number, perhaps the holiday season is setting up well for the recently beleaguered retailers.
As for the markets, by the close the Dow Jones Industrial Average was down 54 points to finish the day at 18,868. The S&P 500 was down 3 points to close at 2176. Gold was up $1 to trade at $1,225 per ounce, while oil was down $.36 to trade at $45.45 per barrel WTI. Nat Gas was up $.059 to trade at $2.768.
Today’s PPI number was surprisingly benign, remaining unchanged from last month, and we’ll get a peek at the CPI number tomorrow. Though is seems like a forgone conclusion that the Fed will raise rates in December, remember that they are hoping to see some inflation. Janet Yellen will be speaking tomorrow morning, so we’ll see if anything comes from that. Regardless, volatility seems to be waning a bit as markets seem to be digesting the Trump victory. Let’s see how the rest of the week goes.
Have a nice evening everyone.
