Stocks looked like they wanted to add to Friday’s gains before the open this morning, but yet another report out of China about some trepidation that the Chinese are having with regards to a trade deal, deflated the enthusiasm. Stocks mainly hung around the flat line for most of the trading session with very little volatility. Besides the impeachment hearings, traders will be focused on the earnings releases of many of the nation’s largest retailers, including – Target, Kohl’s, TJX, Urban Outfitters, L Brands, Lowe’s, Gap Stores, Nordstrom, Macy’s and Williams-Sonoma. Retail has been a strong area of the economy and the market this year, so it will be interesting to see if the good news is priced in, and if there will be any disappointments.
For the day, the Dow Jones Industrial Average was up 31 points to close at 28,036. The S&P 500 was up 1 point to finish the day at 3,122. Gold was up $3 to trade at $1,471 per ounce, while oil was down $.89 to trade at $56.83 per barrel WTI.
On the economic front, we’ll get some housing news this week including housing starts and building permits tomorrow and existing home sales on Wednesday. We’ll also get a look at leading indicators and consumer sentiment later in the week. Along with impeachment theatrics and minute by minute trade rumors, we should have enough to keep us busy this week. Stay tuned.
Have a nice evening everyone.