Friends
With this being a shortened holiday week, we might expect that trading will be light, but as the new quarter began it looked like we would continue our string of triple digit moves, as the Dow was sporting a nifty 174 point gain early in the trading session. But as the day wore on, the early gains saw some evaporation as stocks seemed easily pushed around on light volume.
By the close of trading, the Dow Jones Industrial Average was up 65 points to finish the day at 14,974. The S&P 500 was up 8 to close at 1614. Gold continued to rebound just a little as the precious metal was up $28 to trade at $1252 per ounce, while oil was up $1.34 to trade at $97.90 per barrel WTI.
With the all-important jobs report due on Friday, traders will have plenty to chew on this week. Today we got a decent ISM Manufacturing Index number, and on Wednesday we’ll get the ADP Employment report that measures hiring in the private sector. Of course, we are only a week away from the beginning of earnings season, so the likelihood of triple digit volatility continuing is high. We’ll be here all week, except on Thursday, to keep you up to date.
Have a nice evening everyone.
