Friends
Stocks were able to post gains despite a miserable housing starts number and a massive fine levied by the EU against Google. Heck, stocks actually went up today without the help of Amazon. Regardless, earnings continue to come and the numbers continue to be good. So far it appears that stocks may not have been priced too richly going into this earnings season.
By the close, the Dow Jones Industrial Average was up 79 points to finish the day at 25,199. The S&P 500 was up 6 points to close at 2,815. Gold was mostly unchanged trading at $1,227 per ounce, while oil was up $.80 to trade at $68.88 per barrel WTI.
Yes, we are in the middle of an earnings season, and there is never a shortage of headlines to deal with, but the market action is beginning to look like the dog days of summer are setting in (albeit with a positive bent). Maybe, the bulls can springboard off of all the wonderful corporate earnings coming the next couple of weeks, but the fear of the effects of trade wars seems to be keeping a lid on things at the moment. Let’s see if any of that changes as we work our way through the next couple of weeks.
Have a nice evening everyone.
