With the coming snow storm on the East coast, trading in stocks was light today, and might be virtually nonexistent tomorrow. For the first time in a long time, there was almost no volatility as stocks just drifted near the breakeven mark all day. Neither the Greek election nor the Russian debt downgrade seemed to have any real effect on market direction in today’s session.
By the close, the Dow Jones Industrial Average was up 6 points to finish the day at 17,678. The S&P 500 was up 5 points to close at 2057. Gold was down $12 to trade at $1280 per ounce, while oil was down $.42 to trade at $45.17 per barrel WTI.
This week marks a big one for corporate earnings starting with Microsoft tonight after the close. Once traders get past the snowstorm, corporate earnings and Friday’s GDP number should set the tone for the week. While we’re nice and warm and dry here in Houston, we’ll let you know how the markets navigate snowmageddon2015. Stay tuned.
Have a nice evening everyone.