Quiet End To A Week Full Of Fireworks

Friends

I’ve had a lot to say this week, so today with the three day holiday weekend ahead, I’ll keep it short and sweet. The stock market took somewhat of a breather today after the hectic action we’ve seen over the past couple of weeks. No real surprise as traders were likely heading off to enjoy the weekend. We did have another good economic data point as the ISM Manufacturing Index for June came in better than expected.

As for stocks, by the close the Dow Jones Industrial Average was up 18 points to finish the day at 17,948. The S&P 500 was up 4 points to close at 2102. Gold was up $22 to trade at $1,343 per ounce, while oi was up $.82 to trade at $49.15 per barrel WTI.

Another continuing story is the plunge around the world in interest rates. At this rate pretty soon the banks will be paying us to take out a mortgage. Fed officials have somewhat scoffed at the notion of negative interest rates here in the U.S., but around the world rates are sinking fast. Ok, that’s enough for this week. What a week it was.

Have a great 4th of July holiday weekend everyone. Stay cool and be safe.

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