Friends
It was another very quiet day of trading. We had a little bounce at the open and basically treaded water for the rest of the trading session. Earnings continue to be pretty decent and the share price reactions have been a little different this quarter. Instead of disappointing share price reactions to good news, so far we are seeing decent share price reactions to muted expectations (see Verizon).
By the close, the Dow Jones Industrial Average was up 152 points to finish the day at 35,609. The S&P 500 was up 16 points to close at 4,536. The Nasdaq Composite Index was down 7 points to close at 15,121. Gold was up $14 to trade at $1,785 per ounce, while oil was up $1.29 to trade at $84.25 per barrel WTI.
After the disruptions we had weeks ago and the volatility that followed, things have calmed down a bit as we have seen happen for some years now. Are we poised for a bull run into year end, or is this a bit of a head fake that will run out of steam? Stay tuned.
Have a nice evening everyone.
