The bulls took a breather today as stocks, other than Apple and Amazon, spent the bulk of the trading session in negative territory. Weakness in emerging markets and Chinese tariff talk were the main culprits with regards to the negative bias for stocks.
By the close, the Dow Jones Industrial Average was down 137 points to finish the day at 25,986. The S&P 500 was down 12 points to close at 2,901. Gold was down $5 to trade at $1,206 per ounce, while oil was up $.63 to trade at $70.14 per barrel WTI.
Have the bulls simply headed to the Hamptons for the Labor Day Weekend, or have stocks run enough to warrant a cooling off period? Let’s see how the week and the month finish up tomorrow.
Have a nice evening everyone.