It was a mixed day for stocks that ended up following a similar pattern as yesterday’s trading. Stocks enjoyed an early surge led by the Dow only to have a lot of steam come out of the proceedings as the trading session wore on. The Dow did register new highs, but Nasdaq and small caps struggled.
By the close, the Dow Jones Industrial Average was up 122 points to finish the day at 26,773. The S&P 500 was down 1 point to close at 2,923. Gold was up $15 to trade at $1,207 per ounce, while oil was down $.16 to trade at $75.14 per barrel WTI.
Remember, we have employment data coming the rest of the week, but as we head into earnings season one has to wonder if certain parts of the market are feeling a bit stretched. Enthusiasm seems evident in the morning, but has been giving way to exhaustion or simple boredom late in trading sessions. We’ll watch to see what, if any, pattern develops over the coming days as we approach earning season. Stay tuned.
Have a nice evening everyone.