Friends
Despite or because of all the testimonies and political headlines, stocks posted the first positive day of the week. Market participants monitored the Senate Intelligence Committee testimonies this morning, then, this afternoon were frantically reading the release of former FBI Director Comey’s opening statement before his testimony tomorrow. As mentioned none of this seemed to deter the bulls from doing some buying after the past two lackluster trading sessions. And evidently there was enough red meat for the bears to sink their teeth into either.
By the close, the Dow Jones Industrial Average was up 37 points to finish the day at 21,173. The S&P 500 was up 3 points to close at 2,433. Gold was down $9 to trade at $1,287 per ounce, while oil was down a whopping $2.40 to trade at $45.79 per barrel WTI.
Will Comey’s testimony move stocks tomorrow? Well, as we have mentioned, market participants almost seem numb to all the political headlines and grandstanding. Of course, that could change at any moment as it doesn’t appear that the political landscape is going change anytime soon. Next week the Fed may take center stage, but until then…
Have a nice evening everyone.
