Stocks recovered from an early morning selloff to post modest losses by the close. Nike was a drag on the Dow after their rather curious new ad campaign was unveiled yesterday. But, stocks in general had a negative bias as we move into September, the month that the good folks at Barron’s warned us about this weekend. Yes, Septembers in the past have been challenging for stocks. Will this one be?
For the day, the Dow Jones Industrial Average was down 12 points to close at 25,952. The S&P 500 was down 4 points to finish the day at 2,896. Gold was down $9 to trade at $1,197 per ounce, while oil was down $.58 to trade at $69.22 per barrel WTI.
Amazon became the second company to cross the $1 Trillion mark today, after Apple had done so earlier in the summer. Those two stocks just keep on rolling despite the softness in the rest of the market recently. The bulls haven’t been able to push to convincing new highs yet. Is their time running out, or have we just paused? Let’s see how this shortened week plays out.
Have a nice evening everyone.