Friends
Market participants seemed content to sit on their hands today while waiting for tomorrow’s non-farm payroll number. Stocks drifted aimlessly for most of the trading session, never really showing any real propensity to rise or fall. Jobs reports are always noteworthy but tomorrow’s just might be a determining factor as to whether we see the Fed initiate lift off in December.
As for stocks, by the close the Dow Jones Industrial Average was down 4 points to finish the day at 17,863. The S&P 500 was down 2 points to close at 2099. Gold was down $3 to trade at $1102 per ounce, while oil was down $1.03 to trade at $45.29 per barrel WTI.
All eyes will be focused on the jobs report tomorrow morning. Bonds have been selling off into the news, so it will be interesting to see how they react tomorrow, and of course it’s always fascinating to see how stocks interpret the situation. Is good news good news, or is good news bad news, or is bad news good news, or …
Have nice evening everyone.
