As we mentioned last week, there are not a lot of market moving events scheduled in the next week or so, and today’s trading was indicative of just that. Stocks opened slightly to the upside and basically loitered for the entire trading session. Market participants seem bored with the proceedings after all the excitement and volatility we have seen over the past several weeks. By the close, traders had nodded off and stocks drifted slightly into negative territory.
For the day, the Dow Jones Industrial Average was down 11 points to close at 18,116. The S&P 500 was down 3 points to finish the day at 2104. Gold was up $6 to trade at $1190 per ounce, while oil was up $.81 to trade at $47.38 per barrel WTI.
As for this week’s economic data points, we do get the CPI tomorrow (it plunged in January) in addition to some housing data. On Wednesday we get Durable Goods, and of course on Thursday we get the weekly jobless claims. On Friday we’ll get another revision to 4th quarter 2014 GDP, but that is old news at this point. Let’s see if traders can get fired up about tomorrow’s CPI number.
Have a nice evening everyone.