Markets Hit Pause Button


Traders continue to be a little skittish about taking new positions while the Iraqi situation unfolds. In addition we are waiting on the results of a two day FOMC meeting which begins tomorrow. The result was another very quiet day of trading with little volume and little volatility.

By the close, the Dow Jones Industrial Average was up 5 points to finish the day at 16,781. The S&P 500 was up 1 point to close at 1937. Gold was down $2 to trade at $1271 per ounce, while oil was down $.11 to trade at $106.80 per barrel WTI.

On the economic front, today’s Industrial Production number was good as was the Empire State Manufacturing number. In addition to the Fed meeting and Ms. Yellen’s presser, this week we will get the CPI number and Housing Starts tomorrow as well as Leading Indicators on Thursday. Let’s see if market participants find anything other than Iraq to trade on this week. We’ll let you know as the week unfolds.

Have a nice evening everyone.

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