You know the old saying, the talk of tax reform cooperation giveth and the the talk of government shutdowns and debt ceilings taketh away. After yesterday’s healthy rally, stocks gave a portion of it back as much of the “good feelings” somewhat melted away.
By the close, the Dow Jones Industrial Average was down 87 points to finish the day at 21,812. The S&P 500 was down 8 points to close at 2,444. Gold was up $4 to trade at $1,295 per ounce, while oil was up $.56 to trade at $48.39 per barrel WTI.
Jackson Hole begins tomorrow, so over the next couple of days we’ll get to hear pearls of wisdom from central bankers from at home and abroad. Try to stay calm.
Have a nice evening everyone.