The bears got the upper hand again today, as earnings season is proving to be somewhat of a challenge. Results have been as expected, but companies are very concerned about how the next couple of quarters are going to play out, and investors are starting to pay attention.
By the close, the Dow Jones Industrial Average was down 182 points to finish the day at 26,469. The S&P 500 was down 20 points to close at 3,215. Gold was up $9 to trade at $1,898 per ounce, while oil was up $.17 to trade at $41.24 per barrel WTI.
Going into earnings season, stocks looked like they were a bit stretched and running out of gas. Though, we have seen a little bit of a stall in here, the damage to this point is minimal. Next week will be another very busy one on the earnings front with 3M, Amgen, McDonald’s, Boeing, Google, Apple, Amazon, Merck, Caterpillar, Exxon Mobil, and Chevron all reporting. We’ll be back at it next week and we’ll let you know how many of the big names fare.
Have a great weekend everyone.