Another quiet day for stocks as market participants wait to see what the Senate unveils tomorrow with regards to their tax reform bill. As mentioned, traders are beginning to wonder if an actual bill can get to the President before year end, and just what that bill might look like.
Stocks basically drifted back and forth from positive territory to negative territory during the trading session with the Dow Jones Industrial Average up 6 points to finish the day at 23,563. The S&P 500 was up 3 points to close at 2,594. Gold was up $5 to trade at $1,281 per ounce, while oil was down $.44 to trade at $56.76 per barrel WTI.
It’s been a quiet week of trading as we get past earnings season and look forward to the coming holiday season. One year since the surprising Trump victory and the economy is doing fine, stocks have risen (both the Dow and the S&P up more than 20%) and consumer confidence is high. I’m not sure even the most optimistic of Trump supporters a year ago would have expected these results. Or maybe they would have.
Have a nice evening everyone.