Above the fold
Trade Confusion and Another Soft Day For Stocks
Independent Investment Management designed to protect and grow your wealth.
JIM CARLTON
Managing Director
Chief Investment Officer
Friends
As confusion reigns over the likelihood of a trade deal, or at least a delay in new tariffs, stocks drifted lower for the second day in a row. Again, the move was less than convincing, but nevertheless Friday’s jobs report induced euphoria has seemed to evaporate as we get closer to the December 15th trade deal deadline. In addition to trade, the markets also have to grapple with impeachment proceedings and politics in general as we head into an election year. God help us all.
As for today, by the close the Dow Jones Industrial Average was down 27 points to finish the day at 27,881. The S&P 500 was down 3 points to close at 3,132. Gold was up $4 to trade at $1,468 per ounce, while oil was up $.25 to trade at $59.27 per barrel WTI.
We’ll get the Fed decision on interest rates tomorrow (no change in rates is expected), and after that it will likely be trade and politics until year end. First, let’s see what the Fed has to say for itself tomorrow and then we put them aside until next year. Stay tuned.
Have a nice evening everyone.
Jim