Friends
It was a quiet end to a pretty good month. Remember, August is often believed to be a difficult month for stocks, but as we have seen for most of the year, the bulls continue to hold the upper hand. We have a lot ahead of us in the coming months, politics (spending and taxing bills), a possible change in Fed policy, a continuing battle with a pandemic, and inflation caused by scarcity and demand. But, up to now, the stock market has been a resilient stalwart.
As for today, by the close the Dow Jones Industrial Average was down 39 points to finish the day at 35,360. The S&P 500 was down 6 points to close at 4,522. The Nasdaq Composite Index was down 6 points to close at 15,259. Gold was up $5 to trade at $1,817 per ounce, while oil was down $.69 to trade at $68.52 per barrel WTI.
Now we move into September. Will we move into what is sometimes a volatile season for stocks, or will we march to higher levels for the market averages. It should be a fascinating last third of the year. Stay tuned.
Have a nice evening everyone.
