Bracing For The Fed?


Stocks once again limped through the trading session as earnings season, and the growing belief that the Fed is poised to move in September, continued to weigh on the psyche of traders. The breakdown of stalwarts and Dow components like Apple also have traders wondering what will continue to work in this market and what won’t.

By the close, the Dow Jones Industrial Average was down 47 points to finish the day at 17,550. The S&P 500 was down 4 points to close at 2093. Gold was down $2 to trade at $1087 per ounce, while oil was up $.58 to trade at $45.75 per barrel WTI.

We still have more earnings reports to filter through this week along with the employment data that we get tomorrow, Thursday and Friday. The sentiment has certainly turned more negative in the past couple of weeks (which actually could turn out to be helpful), and we definitely find ourselves in the dog days of summer.

Have a nice evening everyone.

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