The talks are off! The talks are still on! As headlines flashed about the Canadian trade talks stocks vacillated back and forth but mainly in negative territory. We’ll let all the trade talks work themselves out, and in the interim we’ll take a moment to tip our cap to the bulls as we end the month of August. It’s true, that September is sometimes a difficult month for stocks, and we’ll address that next Tuesday after the holiday weekend, but for now let’s just enjoy the gains afforded market participants (well, those that are long anyway) that have occurred this summer.
By the close, the Dow Jones Industrial Average was down 22 points to finish the day at 25,964. The S&P 500 was up a fraction to close at 2,901. Gold was up a fraction to trade at $1,205 per ounce, while oil was down $.35 to trade at $69.90 per barrel WTI.
Remember, that the markets will be closed for Labor Day on Monday. We’ll be back in the saddle on Tuesday.
Have a great holiday weekend everyone.