It seemed like after the first hour of trading, market participants headed out for the three day holiday weekend, as stocks basically stood still for the rest of the session. Traders basically dismissed Mr. Putin’s remarks broadcast on CNBC, and both the bulls and the bears seem somewhat bored at the moment.
By the close, the Dow Jones Industrial Average was up 63 points to finish the day at 16,606. The S&P 500 was up 8 points to close at 1900 (finally closing slightly above that 1900 level). Gold was down $2 to trade at $1293 per ounce, while oil was up $.60 to trade at $104.34 per barrel WTI.
Stocks are trading at or near all-time highs, but you wouldn’t know it with the lack of enthusiasm we see for this market. Even the bulls seem to have one foot out the door at all times. There is an old saying on Wall Street (yes, another one of those old sayings), never sell a dull market. I would comfortably describe the market in 2014 as dull. We’ll see if this old adage holds true this time.
Have a great Holiday Weekend Everyone. We’ll be back at it on Tuesday.