Friends

 

It really wasn’t a very good week for stocks. Now, that is somewhat understandable. First of all, seasonally this is often a difficult time for stocks, but add in stress about Covid-19 and the Delta variant, coming tax hikes, inflation, stretched valuations and the Fed likely to begin tapering at some point and you have plenty of worries for market participants to deal with at the moment.

 

For the day, the Dow Jones Industrial Average was down 272 points to close at 34,607. The S&P was down 34 points to finish the day at 4,458. The Nasdaq Composite Index was down 132 points to close at 15,115. Gold was down $10 to trade at $1,789 per ounce, while oil was up $1.55 to trade at $69.69.

 

As I mentioned earlier today, let’s remember those who fell and those who risked their lives to save others on 9/11/2001.

 

Have a nice weekend everyone.

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