Friends
It appears that the wrangling over the debt ceiling has market participants feeling content to stay on the sidelines for the moment. Stocks were mixed throughout the session with the Dow mostly in negative territory, the Nasdaq mainly in positive territory and the S&P straddling the break-even line. Fed officials continue to pop up everywhere like whack-a-moles with some mixed messages, but indicating basically we may not be totally done with rate hikes in this cycle. Well, if they are not done, I think they are very close.
Anyway, as for today by the close the Dow Jones Industrial Average was down 140 points to finish the day at 33,286. The S&P 500 was up a fraction of a point to close at 4,192. The Nasdaq Composite Index was up 62 points to close at 12,720. Gold was down $7 to trade at $1,974 per ounce, while oil was up $.26 to trade at $ 71.81 per barrel WTI.
The dark clouds cast by the folks in Washington will likely be the story this week as investors really can’t be confident in making any major moves until they know that the U.S. isn’t going to default on its debt. Let’s see how it all plays out. Stay tuned.
Have a nice evening everyone.
