Friends
Stocks were mixed today as market participants focus on this week’s earnings release from super star AI chip maker Nvidia. That report will come after the close on Wednesday. Then the next big economic data point will be the jobs report on September 6th. That report will likely dictate whether the Fed will lower rates by a quarter or a half a point at the September meeting.
As for today, by the close the Dow Jones Industrial Average was up 65 points to finish the day at 41,240. The S&P 500 was down 17 points to close at 5,616. The Nasdaq Composite Index was down 152 points to close at 17,725. Gold was up $8 to trade at $2,554 per ounce, while oil was up $2.31 to trade at $77.14 per barrel WTI.
It will be interesting to see how markets navigate the next few weeks. The Fed has signaled that they will be lowering rates, so how much of that is already in both the stock and bond market at this point? We’ll let you know how the week unfolds. Stay tuned.
Have a nice evening everyone.
