It was as though Apple was facing off against the rest of the stock market today, and Apple won. After an early morning triple digit loss in the Dow, stocks led by Apple climbed all the way back into positive territory by the end of the trading session. It was all about the aforementioned Apple as today’s advance in the shares put the company at the $1 Trillion market capitalization. Of course, Apple is the first company ever to grow to such size.
As for the markets, by the close the Dow Jones Industrial Average was down 7 points to finish the day at 25,326. The S&P 500 was up 13 points to close at 2,827. Gold was down $10 to trade at $1,217 per ounce, while oil was up $1.32 to trade at $68.98 per barrel WTI.
Tomorrow we get the non-farm payroll number. Analysts are expecting about 190,000 new jobs to have been created in July. They are looking for the unemployment rate to be somewhere between 3.8%-4%. I’ll be watching the average hourly wage number. Analysts are looking for an increase of 0.3%, and it will be a closely scrutinized component to future rate hike decisions by the Fed. Let’s see how the employment numbers look to tomorrow and how the week finishes out.
Have a nice evening everyone.