Stocks continued to drift slightly lower (well, at least the Dow anyway) in today’s trading session as concerns about spiking Covid-19 numbers continue to overhang the markets. It appears that the hope that the virus will kind of disappear in the summer months (well, at least that was my hope) is not coming true and we are actually seeing a pretty significant spread once again. So basically, the virus never really went away over the past couple of months, but lockdowns did slow the spread. Now that we are back out and about the spread seems to be widening. The markets are going to have to reckon with this in the coming months.
By the close, the Dow Jones Industrial Average was down 39 points to finish the day at 26,080. The S&P 500 was up 1 points to close at 3,115. Gold was down $3 to trade at $1,731 per ounce, while oil was up $.89 to trade at $38.85 per barrel WTI.
Once again, the volatility is diminishing just a bit (hope I didn’t speak too soon), and it’s been a relatively calm week. Let’s see how we close the week out tomorrow.
Have a nice evening everyone.