Friends
As I work my way back home today the markets continue to be inconsistent. Earnings season has produced some positive share price movement and plenty of negative share price movement too. We get earnings from Amazon today after the close and Apple later in the week, so we still have some big names to watch for. As for the markets in general, we have hit a difficult spot given the lower interest rate narrative has been replaced with worries that inflation is going to remain a problem and the Fed is going to be caught between a rock and a hard place.
As for today, by the close, the Dow Jones Industrial Average down 570 points to finish the day at 37,815. The S&P 500 was down 80 points to close at 5,035. The Nasdaq Composite Index was down 325 points to close at 15,657. Gold was down $53.80 to trade at $2,303 per ounce, while oil was down $1.03 to trade at $81.60 per barrel WTI.
As mentioned, it’s difficult for stocks to move higher given that interest rates continue to remain firm and even appear to want to push a little higher. Earnings season hasn’t been a disaster, but the overall conditions might continue to challenge stocks into the summer. We will see. In the meantime…
Have a nice evening everyone.
Jim
