Ok, back to the regular email. Hope you enjoyed the little history of the email this morning. Well, another day of not much happening. The ADP employment number which measures private sector payroll growth showed 179,000 new jobs on company payrolls for May, but that was shy of the expected/ hoped for 210,000 consensus estimate. Stocks once again meandered throughout the trading session as perhaps traders are focusing on the actions/statements of the ECB and Mr. Draghi tomorrow, and of course the non-farm payroll number/employment report on Friday.
By the close, the Dow Jones Industrial Average was up 15 points to finish the day at 16,737. The S&P 500 was up 3 points to close at 1927. Gold was down $1 to trade at $1243 per ounce, while oil was down $.22 to trade at $102.44 per barrel WTI.
If we are going to get any action this week it should be over the next couple of days. This is definitely the most quiet we have seen stocks in several years. Once again, the quiet before the storm or simply digesting last year’s gains? What’s that old ketchup commercial/Carly Simon song- Anticipation…
Have a nice evening everyone.