Stocks Up As Earning Season Begins

Friends

As we sit here in Houston today, reeling from an unreal playoff football loss, and the nuking of our baseball team’s front office/management, stocks did actually trade today. It was a quiet but positive day for stocks as traders gear up for earnings season, a China deal signing, and even the possible beginning of an impeachment trial in the Senate.

As for today, by the close the Dow Jones Industrial Average was up 82 points to finish the day at 28,905. The S&P 500 was up 22 points to close at 3,288. Gold was down $9 to trade at $1,550 per ounce, while oil was down $1.10 to trade at $57.94 per barrel WTI.

The first week of earnings season always features the banks and tomorrow we’ll get reports from J. P. Morgan, Citigroup and Wells Fargo. On Wednesday we’ll get reports from Bank of America, U.S. Bancorp, PNC Financial, Goldman Sachs and Blackrock. Thursday we’ll get Morgan Stanley and Charles Schwab reports, and finally on Friday we’ll get Regions and State Street. Let’s see if the financials can set a positive tone to the beginning of earnings season. Stay tuned.

Have a nice evening everyone.

Copyright 2016 Carlton, Hofferkamp & Jenks Wealth Management, LLC. All Rights Reserved.

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