Friends
Stocks did try to move higher most of the day, but virus reports and simple buyers’ exhaustion finally set in. Earnings from IBM, Johnson & Johnson and Netflix were fine, but not exciting enough to effect the markets. It will be interesting to see, given the rise in share prices, if corporate earnings have already been priced in, even if they are good.
As for today, by the close the Dow Jones Industrial Average was down 9 points to finish the day at 29,187. The S&P 500 was up 1 point to close at 3,321. Gold was mainly unchanged trading at $1,558 per ounce, while oil is down $1.68 to trade at $56.70 per barrel WTI.
Earnings will continue to roll the rest of this week and really kick into gear over the next couple of weeks. In the meantime the impeachment trial continues but market participants are paying it little mind at the moment. Let’s see if these corporate earnings can justify these stock prices. Stay tuned.
Have a nice evening everyone.
