Friends
What a wild day for stocks. We saw high flyers tumbling out of the sky, Fed Chair Powell reminding everyone that the Fed is still firmly in a dovish sense, and some of those boring old companies that some of us old guys tend to gravitate towards continuing to move higher. Once again the tech heavy Nasdaq was the biggest mover of the day, actually down more than 4% at one point during the trading session. But, stocks recovered nicely as the trading session wore on and by the close we saw some green and the damage was mitigated.
By the close, the Dow Jones Industrial Average was up 14 points to finish the day at 31,535. The S&P 500 was up 4 points to close at 3,881. The Nasdaq Composite Index was down 67 points to close at 13,465. Gold was down $3 to trade at $1,805 per ounce, while oil was up $.39 to trade at $62.09 per barrel WTI.
We are only two days in and it has already been a wild week of trading. Buckle up, it appears we are encountering some turbulence.
Have a nice evening everyone.
