Friends
The bulls spent today’s trading session trying to rally the troops but in the end the bears still were able to hold the high ground. Of course the release of the Fed minutes sent a bit of a shiver through the financial markets yesterday and by this morning investors had had enough time to interpret the Fed’s intentions and decide if this is a dip to nibble at or one to stay away from for the time being.
By the close, the Dow Jones Industrial Average was down 170 points to finish the day at 36,236. The S&P 500 was down 4 points to close at 4,696. The Nasdaq Composite Index was down 19 points to close at 15,080. Gold was down $36 to trade at $1,788 per ounce, while oil was up $1.70 to trade at $79.55 per barrel WTI.
We’ve talked about the challenges investors face as we move into 2022. Right at the top of those concerns is the announced change in monetary policy. It will be fascinating to see how markets deal with a Fed that has decided to take a hawkish stance as the year unfolds. Let’s get a look at the non-farm payroll number tomorrow before we close out this somewhat wild first week of trading for 2022.
Have a nice evening everyone.
