Friends

Same story as yesterday. Higher oil prices and higher interest rates around the world are providing headwinds for stocks. We will see how long this stand off vs. corporate earnings and economic data lasts.

By the close, the Dow Jones Industrial Average was down 116 points to finish the day at 53,343. The S&P 500 was down 53 points to close at 7,691. The Nasdaq Composite Index was down 355 points to close at 26,289. Gold was down $62 to trade at $4,412 per ounce, while oil was up $.38 to trade at $84.88 per barrel WTI.

I am heading across the pond for about a week and a half, but I’ll keep an eye on things and report in if necessary. In the meantime, you will be in great hands with Hunter, John, Matt, and Mike. It may be quiet with earnings season behind us and the Fed not scheduled to meet until next month. But you never know. We’ll talk soon.

Have a nice evening everyone.

Jim