Stocks seemed to be headed for decent gains in the early part of today’s trading session, but the mention of more Russian sanctions sent the averages into negative territory, where they remained throughout the afternoon. Despite the wave of corporate earnings and economic data, it’s not surprising that global events continue to draw the attention of market participants. Unfortunately, there are multiple areas on concern when it comes to global influence on the markets.
By the close, the Dow Jones Industrial Average was down 70 points to finish the day at 16,912. The S&P 500 was down 8 points to close at 1969. Gold was down $3 to trade at $1300 per ounce, while oil was down $.80 to trade at $100.87 per barrel WTI.
We’ll keep an eye on the global situations, but in the meantime as mentioned yesterday, there is a lot of domestic data to deal with this week. Which will gain prominence in the eyes of traders remains to be seen, but it seems global events illicit immediate responses that tend not to linger. We’ll let you know how things progress during the week. Next up is our first look at GDP and the end of the two day Fed meeting tomorrow.
Have a nice evening everyone.