Hardly Worth It


An old saying on Wall Street for trading sessions like today’s trading session is that it wasn’t worth the cost of a clean shirt and cab fare. Very little volume. Very little volatility. Very little overall interest. On the economic front the weekly jobless claims number pushed back a little higher than expected, leading indicators and existing homes sales were ok and as expected, and the PMI Manufacturing Index showed things are improving this month. None of it seemed to matter much to market participants.

By the close, the Dow Jones Industrial Average was up 10 points to finish the day at 16,543. The S&P 500 was up 4 points to close at 1892. Gold was up $6 to trade at $1294 per ounce, while oil was down $.24 to trade at $103.83 per barrel WTI.

It looks like we are about to finish another week where the bulls and the bears both end up feeling a little frustrated. We’ll fill you in tomorrow.

Have a nice evening everyone.

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