Friends
It was a difficult day for stocks as early morning weakness turned into a day-long affair. Though Boeing was under selling pressure once again, the decline was broad based as technology shares, industrial shares and even banks all showed signs of weakness. The big banks will kick off earnings season this Friday, so we still have a couple of trading sessions to get through before earnings start grabbing the headlines and moving stocks.
For the day, the Dow Jones Industrial Average was down 190 points to close at 26,150. The S&P 500 was down 17 points to close at 2,878. Gold was up $6 to trade at $1,307 per ounce, while oil was down $.29 to trade at $64.11 per barrel WTI.
On the economic front today’s job openings number was strong once again, and tomorrow we’ll get a look at the Consumer Price Index as well as the FOMC minutes from the last meeting. We’ll get a look at PPI on Thursday and then consumer sentiment on Friday. Yes, the S&P’s 8 day winning streak is over, but a little breather isn’t all bad.
Have a nice evening everyone.
