Friends
Stocks eased higher today as market participants braced for a very important Fed meeting this week. On Wednesday afternoon we’ll get the statement on the policy decision and then Chair Powell’s press conference. Word that trade talks with China have been encouraging also gave support to higher prices in the market averages.
By the close, the Dow Jones Industrial Average was up 49 points to finish the day at 45,883. The S&P 500 was up 30 points to close at 6,615. The Nasdaq Composite Index was up 207 points to close at 22,348. Gold was up $34.50 to trade at $3,720 per ounce, while oil was up $.65 to trade at $63.34 per barrel WTI.
As I have mentioned we are expecting a quarter point Fed Funds rate cut on Wednesday. A half a point isn’t out of the question but not our expectation. Will the markets rally or sell the news? Stay tuned.
Have a nice evening everyone.
