Friends
Despite a benign Producer Price Index data and a surge in shares of AI driven companies (led by Oracle), stocks wandered aimlessly during today’s trading session.
By the close the Dow Jones Industrial Average was down 220 points to finish the day at 45,490. The S&P 500 was up 19 points to close at 6,532. The Nasdaq Composite Index was up 6 points to close at 21,886. Gold was unchanged to trade at $3,682 per ounce, while oil was up $1.15 to trade at $63.78 per barrel WTI.
All eyes will be on the Consumer Price Index release tomorrow morning. If it’s anything like today’s measure of wholesale prices, then the wheels will have been adequately greased for Fed easing next week. We’ll let you know what the numbers look like tomorrow.
Have a nice evening everyone.
