By the looks of the market action today, everyone must have been out watching the eclipse. Stocks drifted aimlessly for most of the trading session, as for one day at least, we didn’t have any major political headlines. We are moving into a quiet time as earnings season is mostly behind us and the Fed is likely on hold until later in the year.
As for today, by the close the Dow Jones Industrial Average was up 29 points to finish the day at 21,703. The S&P 500 was up 2 points to close at 2,428. Gold was up $5 to trade at $1,297 per ounce, while oil was down $1.08 to trade at $47.43 per barrel WTI.
The Jackson Hole Economic Policy Symposium kicks off Thursday in Jackson Hole, Wyoming. Both Fed Chair Yellen and ECB President Draghi are scheduled to speak, so market participants will be keeping a watchful eye on the proceedings. Other than that let’s see if we can get through a week without an inordinate amount of political theatre.
Have a nice evening everyone.