The markets seemed to be on hold today, well the stock market anyway, as traders seemed mesmerized by the hope that a Greek solution is close at hand. I’m not sure I would want to bet my house on it, but nevertheless. As for today, stocks traded mainly in positive territory despite a somewhat miserable durable goods number and a not much better PMI manufacturing number. On the other hand the new home sales number was strong, just as other housing data has been lately.
By the close, the Dow Jones Industrial Average was up 24 points to finish the day at 18,144. The S&P 500 was up 1 point to close at 2124. Gold was down $6 to trade at $1177 per ounce, while oil was up $.71 to trade at $61.09 per barrel WTI. The bond market on the other hand was volatile as the 10 yr. spiked to a yield of 2.43% before settling back to 2.41%.
Tomorrow we get the final revision of 1st quarter GDP. Other than that, the Greece watch will continue. We’ll keep you apprised.
Have a nice evening everyone.