Despite the feeling of doom that seemed to spread over the market as we entered the current earnings season, stocks have fared quite well, despite the somewhat mixed results we have seen from U. S. Corporations. It seems that since expectations had been lowered sufficiently to allow a lowered bar to be cleared in trader’s minds.
As for today, the Dow Jones Industrial Average was up 21 points to close at 18,080. The S&P 500 was up 4 points to finish the day at 2117. Gold was down $16 to trade at $1177 per ounce, while oil was down $.59 to trade at $57.15 per barrel WTI.
Yes, this was a very busy earnings week and next week will be too. As I said, so far the reactions by market participants has been surprisingly positive to what we have seen so far. We have seen some volatility, but the bears were hoping for a much different reaction to a lukewarm type earnings season. Let’s see if next week is any different.
Have a great weekend everyone.