Friends
Stocks were a little shaky heading into the eye of the storm. Over the coming three days we will have a Fed decision, inflation data, jobs data, and a plethora of important earnings releases including Amazon, Microsoft, Meta, and Apple. I don’t think the Fed will be lowering the Fed Funds rate tomorrow, but I guess you never know. What the Fed Chair says in the press conference tomorrow afternoon should be very interesting. I suspect big tech earnings will be good, but those stocks might be priced for perfection. Inflation data, jobs data, my goodness there will be a lot for market participants to absorb. And of course, we continue to get tariff and trade deal headlines on a daily basis with Friday being the targeted date to have deals done.
As for today, by the close the Dow Jones Industrial Average was down 204 points to finish the day at 44,632. The S&P 500 was down 18 points to close at 6,370. The Nasdaq Composite Index was down 80 points to close at 21,098. Gold was up $14 to trade at $3,324 per ounce, while oil was up $2.64 to trade at $69.35 per barrel WTI.
Buckle up. We’ll let you know how it all unfolds over the next few days. It should be very interesting.
Have a nice evening everyone.
