It was a mixed bag today for stocks. Google and Facebook led the charge for the NASDAQ, but the rest of the market was somewhat mixed. On the economic front, the CPI number was as expected, but housing starts led by the multi-family units was very strong. Consumer confidence waned just a bit, so all in all the economic data points were somewhat mixed.
By the close, the Dow Jones Industrial Average was down 33 points to finish the day at 18,086. The S&P 500 was up 2 points to close at 2126. Gold was down $12 to and trade at $1131 per ounce, which is a five year low. Oil was down $.04 to trade at $50.87 per barrel WTI.
Next week we have a full calendar of earnings reports. So far it appears that companies have been able to clear the lowered bar of earnings expectations. Let’s see how market participants interpret next week’s earnings flood.
Have a great weekend everyone.