Friends
As we near the end of November, and with a busy week ahead on the economic front, stocks seemed determined to give back the gains achieved in Friday’s abbreviated half day session, as the trading week begins. The market averages opened slightly lower and basically remained slightly lower for the entire trading session.
For the day the Dow Jones Industrial Average was down 54 points to close at 19,097. The S&P 500 was down 11 points to finish the day at 2201. Gold was up $13 to trade at $1,191 per ounce, while oil was up $.82 per barrel to trade at $46.88 per barrel WTI. Nat Gas was up $.0147 to finish trading at $3.191.
On the economic front, we get a second look at 3rd quarter GDP tomorrow, as economist estimate that the quarter will look even a bit stronger than previously reported. We also get a look at the Case-Shiller home price index tomorrow. On Wednesday we get the ADP private payroll number along with personal income, Chicago PMI and pending home sales. Thursday we get weekly jobless claims as well as PMI and ISM manufacturing numbers. Of course Friday brings us the mother of all numbers as we get the monthly non-farm payroll number. It seems pretty clear that the Fed is going to move at the December meeting, but Friday’s jobs number can be the icing on the cake.
So a busy week ahead as the month ends on Wednesday, and December begins amidst a bevy of economic data. We’ll let you know how the week all plays out.
Have a nice evening everyone.
