Friends
I hope all the mothers out there had a great Mother’s Day weekend. As for today’s markets, well there really is not that much to talk about. Stocks were mixed for the entire trading session, seesawing between positive and negative territory. After Friday’s disappointing jobs report, market participants seemed somewhat frozen in time, attempting to figure out their next move. The economy is soft, earnings are challenged, yet valuation, considering where inflation sits is not terribly unreasonable.
As for today’s action, by the close the Dow Jones Industrial Average was down 34 points to finish the day at 17,706. The S&P 500 was up 1 point to close at2058. Gold was down $27 to trade at $1,266 per ounce, while oil was down $1.28 to trade at 43.38 per barrel WTI.
All in all, it is a pretty quiet week ahead on the economic calendar, though we will get a PPI number on Friday. We’ll see what kind of tone traders set as the trading week develops. At the moment though, confusion seems to be the most accurate description of what is hovering over the markets.
Have a nice evening everyone.
