Stocks were quiet as market participants prepare themselves for tomorrow’s non-farm payroll number. It is expected that about 250,000 new jobs were created in July. Nowadays it’s hard to determine what investors want to see at this point. Do they want a weak jobs number, indicating that the Fed’s actions are taking effect? It’s a bit strange to root for less people getting jobs.
Anyway, as for today, by the close the Dow Jones Industrial Average was down 85 points to finish the day at 32,727. The S&P 500 was down 3 points to close at 4,152. The Nasdaq Composite Index was up 52 points to close at 12,720. Gold was up $33 to trade at $1,810 per ounce, while oil was down $2.33 to trade at $ 88.33 per barrel WTI.
It will be interesting to see not only the jobs data itself, but the market’s reaction to those numbers. We’ll let you know how the week finishes out tomorrow.
Have a nice evening everyone.