There was not much to talk about today with regards to economic data and traders seemed totally uninterested in participating in today’s trading session. Stocks straddled the flat line until the last few minutes of trading, when a small sell-off occurred. The trading week ends up being somewhat volatile but very little changed when all was said and done.
By the close, the Dow Jones Industrial Average was down 29 points to finish the day at 16,103. The S&P 500 was down 3 points to close at 1836. Gold was up $7 to trade at $1324 per ounce, while oil was down $.55 to trade at $102.20 per barrel WTI.
We are almost two months into the year and despite the negative bias, stocks are not much off the closing highs of last year. Back to a full week of trading next week. Let’s see who can get the upper hand as the bulls and the bears find themselves battling over an important technical level. We’ll talk to you next week.
Have a nice weekend everyone.