Friends
There was a lot of volatility today but within a fairly tight trading range. Part of the confusion today was the different share price reactions to some of the morning’s earnings releases. Johnson & Johnson appeared to beat analysts estimates convincingly but the stock went down. Goldman disappointed and the stock went down. Bank of America also delivered a nice report, but the shares did little. Once again, it looks like we will get varying reactions to earnings releases mostly based on how the shares fared going into the release.
Anyway, by the close the Dow Jones Industrial Average was down 10 points to finish the day at 33,976. The S&P 500 was up 3 points to close at 4,154. Nasdaq was down 4 points to close at 12,153. Gold was up $10 to trade at $2,017 per ounce, while oil was down $.03 to trade at $80.80 per barrel WTI.
Netflix reports after the close today. That will be an interesting one to watch. We’ll be watching as earnings season unfolds.
