Global Concerns Weigh On Stocks

Friends

Market participants seemed preoccupied with global concerns (and who can blame them), and stocks traded in negative territory for the entire session. After a triple digit early decline for the Dow, stocks did rebound some, but volume was extremely light and trader’s level of interest seemed to wane. It is a full week of earnings reports, but it will be interesting to see if global concerns dominate the headlines.

For the day, the Dow Jones Industrial Average was down 48 points to close at 17,051. The S&P 500 was down 4 points to finish the day at 1973. Gold was up $3 to trade at $1312 per ounce, while oil was up $1.75 to trade at $104.88 per barrel WTI.

In addition to all the corporate earnings news, the economic calendar will give us the CPI and housing data (FHFA House Price Index and Existing Home Sales) tomorrow, Jobless Claims, PMI Manufacturing, and New Home Sales on Thursday, and Durable Goods on Friday. It should be an interesting week. We’ll let you know how it all plays out.

Have a nice evening everyone.

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