Friends
We were right. It was a very quiet week with regards to stock action. Yes, we had a minor storm cloud that appeared over market leader, Apple, but for the most part there was little news and little action. Given that we are in September, a month that has proven to be dicey for stocks in the past, we’re fine with the calm beginning to the month.
For the day, by the close the Dow Jones Industrial Average was up 76 points to finish the day at 34,577. The S&P 500 was up 6 points to close at 4,457. The Nasdaq Composite Index was up 12 points to close at 13,761. Gold was down $1 to trade at $1,942 per ounce, while oil was up $.52 to trade at $87.39 per barrel WTI.
I suspect the action will pick up next week with the all-important CPI number scheduled for next Wednesday. In the meantime, we’ll enjoy the calmness. It’s rare in the markets these days.
Have a great weekend everyone.
