Friends
Off to another painfully slow start to the week as stocks limped along on very low volume all day long (yes we were up, but believe me it was boring). For the day, the Dow Jones Industrial Average was up 32 points to close at 12,392. The S&P 500 was up 2 points to finish the day at 1280. Gold was down $5.40 to finish near $1611 and oil was flat to close at $101.45 per barrel WTI. The action should begin to pick up as earnings season begins this evening with Alcoa reporting after the close. Traders will be keeping a close eye on earnings, as many believe that we have squeezed every last ounce out of margins and that we have possibly seen a peak in earnings for the cycle. The next three weeks will tell the story.
Of course events in Europe and the direction of the Euro will continue to dictate the direction each morning of risk assets. We’ll be here to let you know how earnings season unfolds.
We sent out our 1st quarter outlook today. If you did not receive it, let us know and we’ll get you a copy. You can also find it on our updated website www.chjwealthmanagement.com .
Have a nice evening everyone.
