Friends
Apparently, Thursday was the outlier as stocks had a downward tilt today and the rest of the week. Things feel a bit heavy, especially in those names that have carried the water lately, and economic data, though not terrible, is certainly continuing to show signs of slowing. Yes, I know that is what the Fed wanted, but stock prices may have needed to cool off just a bit to get more in line with where the data is at the moment. Ok, don’t yell at me. I’m not a perma bear, but I do like my advances in stock prices to be accompanied by fundamentals.
Anyway, for the day the Dow Jones Industrial Average was down 218 points to finish the day at 33,728. The S&P 500 was down 33 points to close at 4,348. The Nasdaq Composite Index was down 138 points to close at 13,492. Gold was up $5 to trade at $1,929 per ounce, while oil was down $.22 to trade at $69.29 per barrel WTI.
It’s been a pretty good quarter for stocks, but we’ll see if the bulls can bring it all home as the quarter ends next week. In the meantime…
Have a great weekend everyone.
