Friends
Stocks suffered losses once again today as the month comes to a close. Both the S&P and the Dow Jones Industrial Average were able to stay on the positive side of the ledger for January, but in the end the gains were modest. Once again, earnings season is weighing on stock prices as corporate reports, whether good or bad, have often been met with selling pressure. It appears that some stocks were not priced correctly as we steered into earnings season.
For the day, the Dow was down 107 points to close at 19,864. The S&P 500 was down 2 points to finish the day at 2.278. Gold was up $17 to trade at $1,213 per ounce, while oil was up $.21 to trade at $52.84 per barrel WTI. Nat Gas was down $.095 to finish trading at $3.137.
We continue to get a plethora of earnings reports, including Apple who will release after the close today. Of course, we have the FOMC meeting concluding tomorrow. Remember, we don’t expect the Fed to move on rates at this meeting, but you never know until you get the release. Wow, we already have one month in the books for 2017. We’ll let you know how February kicks off tomorrow.
Have a nice evening everyone.
