Friends
Stocks basically gave back what they gained on Monday as market participants continue to attempt to decipher what is next for the economy, the Fed and interest rates. We get the all-important CPI number tomorrow morning and that will likely give traders comfort or discomfort into next week’s FOMC meeting.
By the close, the Dow Jones Industrial Average was down 17 points to finish the day at 34,645. The S&P 500 was down 25 points to close at 4,461. The Nasdaq Composite Index was down 144 points to close at 13,773. Gold was down $11 to trade at $1,936 per ounce, while oil was up $1.67 to trade at $88.96 per barrel WTI.
Apple announced their new product lineup today and given the share price response, investor reaction was extremely muted. Can the market move higher the rest of the year if generals like Apple tread water or even move lower from here? Might be an interesting topic to discuss at lunch.
Have a nice evening everyone.
