A headline that the signing of a China deal might be delayed until December sent stocks reeling during today’s trading session (ok, I’m just kidding). Actually, stocks basically did a whole lot of nothing today, and headlines about deals or no deals with China continue to experience diminishing returns.
For the day, the Dow Jones Industrial Average was basically flat to finish the day at 27,492. The S&P 500 was up 2 points to close at 3,076. Gold was up $9 to trade at $1,493 per ounce, while oil was down $.71 to trade at $56.52 per barrel WTI.
As I mentioned yesterday, it appears that investors are trying to decide if they want to put more money to work at these levels or not. If they don’t, what are the alternatives? Again, a bit of a pause here is not a bad thing. Let’s see how the rest of the week plays out.
Have a nice evening everyone.