Sloppy Start To The Week


With a bit of a lull between last week’s employment data and next weeks Fed meeting, traders will be searching for a catalyst of some sort (of course, at any moment in time Greece could shake things up). Today’s action was sloppy at best, with stocks spending most of the trading session in negative territory, as the sense of concern continues to permeate the situation.

By the close, the Dow Jones Industrial Average was down 82 points to finish the day at 17,766. The S&P 500 was down 13 points to close at 2079. Gold was up $5.40 to trade at $1173 per ounce, while oil was down $.78 to trade at $58.35 per barrel WTI.

Once again, stocks have mostly given up their gains for the year as the Dow now sits slightly in negative territory while the S&P is barely holding on to small gains. On the economic data front, this week we get JOLTS (the job openings and labor turnover survey) tomorrow, jobless claims, retail sales and import and export prices on Thursday, and finally consumer sentiment on Friday. All in all, a rather quiet week awaits in the economic arena. We’ll let you know how it plays out.

Have a nice evening everyone.

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