It was a mixed day for stocks with the Dow and the S&P a bit lower while Nasdaq was up a little. Market participants spent the day trying to digest all the political news that broke yesterday afternoon. The takeaway seems to be that we’ve dealt with political headlines for a couple of years now, and the markets have held steady. There is likely to be heightened volatility as we head towards the November elections, but earnings are good, the economy is doing well, and consumer strength and confidence still seems high.
As for today, by the close the Dow Jones Industrial Average was down 88 points to finish the day at 25,733. The S&P 500 was down 1 point to close at 2,861. Gold was up $3 to trade at $1,203 per ounce, while oil was up $2.03 to trade at $67.87 per barrel WTI.
We continue to flirt with the January highs, so it will be interesting to see if, despite the headlines, stocks can forge ahead and break out to new highs. Let’s see what how things unfold the next two days. Stay tuned.
Have a nice evening everyone.