Stocks took their cue from overseas trading this morning and proceeded to spend the day in negative territory. The bears may have thought they had something going early, but as the midday passed, volatility dried up and boredom set in. After being down more than 90 Dow points and almost 10 S&P points the losses shrank and volume dried up.
By the close, the Dow Jones Industrial Average was down 34 points to finish the day at 16,418. The S&P 500 was down less than a point to close at 1877. Gold was up $2 to trade at $1340 per ounce, while oil was down $1.47 to trade at $101.11 per barrel WTI.
It looks to be a somewhat quiet week as the economic calendar is light (retail sales on Thursday could be interesting though), and earnings season has passed. Perhaps the data vacuum will provide an opening for the bulls or the bears to take advantage of. If today is any indication, they both seem uninterested. Let’s see if the week gets more interesting.
Have a nice evening everyone.