China Tensions

Friends

Stocks moved in and out of positive territory today as China tensions continue to increase, and a plethora of other domestic issues continue to smolder from racial tensions to fights over what constitutes free speech. We’ve come a long way from the March 23rd bottom and it would not be surprising to see stocks stall out a bit right in here. But, of course, there is an ocean of liquidity in the financial markets and there are very few options.

As for today, the Dow Jones Industrial Average was down 17 points to finish the day at 25,383. The S&P 500 was up 14 points to close at 3,044. Gold was up $17 to trade at $1,745 per ounce, while oil was up $1.27 to trade at $34.98 per barrel WTI.

As mentioned, we have come a long way, but for the moment the bulls still hold the high ground. As we move into the summer months it’s likely that this will be a different type of summer than we are used to seeing, and market action could very likely be different than the normal “summer doldrums” that we are used to seeing. Unlikely that there are going to be any dull moments this year. Oh, and there’s an election later in the year. Should be fun.

Have a great weekend everyone.

 

Jim

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