Friends
Maybe it was a hangover from a crazy Super Bowl, but trading today was uninspired as stocks drifted in negative territory for most of the session. With earnings season mostly behind us, traders will now begin to focus on the economy, which has been providing mixed messages lately. Of course, any movement or statement from the White House has the potential to move stocks in a moment’s notice.
By the close, the Dow Jones Industrial Average was down 19 points to finish the day at 20,052. The S&P 500 was down 4 points to close at 2,292. Gold was up $16 to trade at $1,237 per ounce, while oil was down $.73 to trade at $53.10 per barrel WTI.
With not much on the economic calendar for the week, and having just moved past an FOMC meeting, there might be a bit of a news void in terms of trading direction, but I wouldn’t be surprised if the President gives the markets a couple of things to chew on this week. We’ll keep an eye on things and let you know if anything interesting develops.
Have a nice evening everyone.
