To come up with additional ways to describe the lack of interest/activity in the markets right now might require I take a course in creative writing. Once again today’s trading saw very little volatility, volume or direction. There were a couple of speeches by Fed officials but other than that, not a whole lot to report on.
By the close, the Dow Jones Industrial Average was up 18 points to finish the day at 16,943. The S&P 500 was up 1 point to close at 1951. Gold was up $1 to trade at $1253 per ounce, while oil was up $1.73 to trade at $104.39 per barrel WTI.
The economic calendar is somewhat quiet this week, but we do get a look at retail sales, business inventories and weekly jobless claims on Thursday. As we have mentioned, there is an eerie quietness to the proceedings right now. Market participants seem to be trying to interpret the lack of activity, instead of actually getting involved. Let’s see how the week unfolds.
Have a nice evening everyone.