Despite retailers enjoying a better week than one might have expected, stocks in general experienced another less than stellar trading session. Stocks were down from the open and basically went sideways the rest of the day. As mentioned, shares of many retailers have had a nice bounce this week and last, but of course, many had suffered a lot of damage throughout the year.
By the close, the Dow Jones Industrial Average was down 100 points to finish the day at 23,358. The S&P 500 was down 6 points to close at 2,578. Gold was up $16 to trade at $1,294 per ounce, while oil was up $1.44 to trade at 56.58 per barrel WTI.
The bulls weren’t able to build on yesterday’s relief rally, but the bears really haven’t been able to muster the kind of momentum that they would like either. We have finally seen a little disturbance in the Force. Who will have the upper hand as we head into a shortened holiday week of trading? I for one am anxious to see. Stay tuned.
Have a great weekend everyone.