Stocks struggled today with particular weakness in economic sensitive areas like Banks and Energy. Yes, there was some political news today, but I think today’s selloff is more about the upcoming earnings season and the concerns traders have that the great reopening is not going as smoothly as hoped.
By the close, the Dow Jones Industrial Average was down 361 points to finish the day at 25,706. The S&P 500 was down 17 points to close at 3,152. Gold was down $11 to trade at $1,809 per ounce, while oil was down $1.39 to trade at $39.51 per barrel WTI.
It’s been a choppy week for stocks, but we continue to see the recent winners move higher and recent laggards continue to scuffle. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.