Nasdaq Hangover

Friends

Well after yesterday’s historic day for the Nasdaq Composite Index, traders seemed a bit hung over as stocks tumbled into negative territory in early trading and spent the entire trading session in the red. Besides the Israeli Prime Minister’s appearance before Congress, there wasn’t any major catalyst for the market. Bond prices continue to slide a bit, and oil seems to have settled near $50 per barrel, but traders seem focused on the employment data to come the next three days.

By the close, the Dow Jones Industrial Average was down 85 points to finish the day at 18,203. The S&P 500 was down 9 points to close at 2107. Gold was down $5 to trade at $1202 per ounce, while oil was up $.74 to trade at $50.33 per barrel WTI.

As mentioned, we get the ADP private payroll number tomorrow and, of course, the Government provided jobs picture and unemployment rate on Friday. We’ll let you know how the week plays out.

Have a nice evening everyone.

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