Friends
Another triple digit day and for the third day in a row to the upside. Once again, the day was filled with Fed Governors attempting to put the Genie back in the bottle from last week’s FOMC meeting. So far, despite the bond market’s jitters, stock traders seemed too focused on the end of the quarter and how they want to be positioned by the end of the week.
For the day, the Dow Jones Industrial Average was up 114 points to close at 15,024. The S&P 500 was up 9 points to finish the day at $1613. Gold continues to collapse as the precious metal was down $31 to trade at $1199 per ounce, while oil climbed $1.39 to trade at $96.89 per barrel WTI.
Tomorrow marks the end of the quarter, so I wouldn’t be surprised to see the recent volatility continue. With triple digit moves seemingly every day, June will be remembered for the return of volatility to the market. The first five months of the year were somewhat one way in nature. June seems to have set a new tone for the coming summer months. Let’s see how we finish up tomorrow.
Have a nice evening everyone.
