Friends
The Bulls came out of the gate flying this morning, but as the trading session wore on they ran out of gas while limping to the finish line. As has been the case for some time now, Nasdaq was the most challenged of the market averages early in the session, but interestingly by the close the tech heavy index was able to close the gap.
For the day, the Dow Jones Industrial Average was up 45 points to close at 34,575. The S&P 500 was down 2 points to finish the day at 4,202. The Nasdaq Composite Index was down 12 points to close at 13,736. Gold was down $3 to trade at $1,901 per ounce, while oil was up $1.64 to trade at $67.96 per barrel WTI.
We are entering the summer season for stocks which often is a slower period for the markets. Of course, we enter this summer season with market participants worrying about inflation and stock valuations. But, the bond market has been rather quiet for weeks now, not signaling inflation as it had done for the first part of the year. So, there are some mixed feelings and some mixed messages with regards to market sentiment at the moment. We will get a look at employment numbers this week with the ADP Private Payroll number and the Government non-farm payroll number on Friday. It will be interesting to see how June unfolds.
Have a nice evening everyone.
