Perhaps today’s hotter than expected PPI number will provide additional incentive for the Fed to begin to raise interest rates as soon as September. Or perhaps not. Regardless, stocks enjoyed a somewhat quiet but positive day.
By the close, the Dow Jones Industrial Average was up 69 points to close at 17,477. The S&P 500 was up 8 points to finish the day at 2091. Gold was down a fraction to trade at $1114 per ounce, while oil was virtually flat to trade at $42.08 per barrel WTI.
This ended up being a more interesting week than we would have guessed. Let’s see what this weekend has in store for us. Hopefully not much.
Have a great weekend everyone. Try to stay cool.