It appeared that traders were still feeling the effects of the holiday weekend, as trading volume was very light and volatility very modest. Yes, after drifting higher in early afternoon trading, stocks fell slightly with news of gunshots at the Capital Visitor’s Center, but all-in-all it was a very quiet day of trading. On the economic front we saw an extremely weak February personal income and spending report, but conversely saw a robust pending home sales number. As has been the case for some time now, mixed results.
As for stocks, by the close the Dow Jones Industrial Average was up 19 points to finish the day at 17,535. The S&P 500 was up 1 point to close at 2037. Gold was down $1 to trade at $1,220 per ounce, while oil was down $.09 to trade at $39.37 per barrel WTI.
The rest of the week is chocked full of employment data with the private payrolls ADP report on Wednesday, weekly jobless claims on Thursday, and the big one on Friday- the non-farm payroll number. It would seem that market participants will focus on these numbers, as well as Fed Chair Yellen’s speech before the Economic Club of New York. We’ll let you know how the week unfolds. Hope you had a great Easter.
Have a nice evening everyone.