Friends
Traders seemed a little tentative during today’s trading session as we enter the most active week of the earnings season. We mentioned last week all the different companies that report this week, so we’ll get a good cross section of results from different industry sectors. Again, we’ll see who’s properly priced and who isn’t.
In the meantime, for the day the Dow Jones Industrial Average was down 54 points to close at 23,273. The S&P 500 was down 10 points to finish the day at 2,564. Gold was up $3 to trade at $1,238 per ounce, while oil was up $.04 to trade at $51.88 per barrel WYI.
Retailers were winners today, but tech and the momentum stocks such as Alphabet, Facebook and Amazon saw sizable selling pressure. After the constant march to new highs day after day, we aren’t going to make too much of one mundane down day. Let’s buckle up for the bevy of earnings reports to come this week. We’ll let you know how it unfolds.
Have a nice evening everyone.
Stay Strong Houston
Go Astros
