Stocks Drift

Friends

We got earnings after the close yesterday from two tech giants (Apple and Facebook) and we’ll get two more today at the close (Microsoft and Amazon), but despite the good reports from yesterday’s players, stocks drifted aimlessly today (perhaps stymied by the Russia/Ukraine tensions). On the economic front, Durable Goods came in a little better than expected, but the weekly jobless claims number went the wrong direction.

By the close the Dow Jones Industrial Average was up a fraction to finish the day at 16,501. The S&P 500 was up 3 points to close at 1878. Gold was up $8 to trade at $1292 per ounce, while oil was up $.50 to trade at $101.94 per barrel WTI.

So far, the results from earnings season are as mixed as the results from the economic data. Regardless, the bulls still seem to be in control of the high ground, but better get to new highs soon or the bears will be looking for a break in the lines to exploit. We’ll see how the week ends up tomorrow.

Have a nice evening everyone.

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