Once again we had a very quiet trading session – so quiet that the bulls seem to have disappeared in the last hour of trading. Stocks had drifted mainly in positive territory throughout the trading session, but dipped into the red in the last hour of trading. The only real economic news of note was a very good weekly jobless claims number.
Regardless, stocks ended lower with the Dow Jones Industrial Average down 90 points to finish the day at 36,398. The S&P 500 was down 14 points to close at 4,778. The Nasdaq Composite Index was down 24 points to close at 15,741. Gold was up $11 to trade at $1,817 per ounce, while oil was up $.01 to trade at $76.57 per barrel WTI.
With just one more day of trading left in 2021 it appears that market participants have completed year-end tax selling and repositioning. Let’s see how we finish out the year tomorrow.
Have a nice evening everyone.