Friends
It certainly feels like the markets are trying to still digest last week’s gains. Neither the bears or the bulls were able to accomplish much today, and volatility has mostly dissipated. We knew it was a week that was going to be somewhat lacking with regards to economic data. Yes, Fed officials continue to hold court on a daily basis, but the markets seem pretty convinced that the Fed is basically done raising rates. Of course, time will tell.
As for today, by the close the Dow Jones Industrial Average was down 40 points to finish the day at 34,112. The S&P 500 was up 4 points to close at 4,382. The Nasdaq Composite Index was up 10 points to close at 13,650. Gold was down $18 to trade at $1,954 per ounce, while oil was down $1.71 to trade at $75.66 per barrel WTI.
All eyes will be on an earnings release from Disney after the closing bell. It is amazing how badly the mouse house has fared over the past couple of years. In the meantime, we’ll see how stocks do the rest of the week. Stay tuned.
Have a nice evening everyone. .
