This week the markets struggled on a shortened trading due to the Labor Day holiday. However, there where some signs of life, as oil prices declined as well positive comments from the Federal Reserve. Further, the lack of any hurricanes posing threats to the Gulf of Mexico eased investors fears on Friday and allowed for positive gains to offset partially the losses from earlier in the week.
Recap of Weekly Performance
DJIA- Down 72.04 or -0.63%
S&P 500- Down 12.09 or -0.92%
NASDAQ- Down 27.37 or -1.25%
As stated earlier this years hurricane season has eased investors fears as it has so far failed to produce any significant storms. This has helped crude oil to continue its decline, this week it lost $1.07/barrel or 1.6%. Crude futures closed down 4.2% for the week closing at $66.25/barrel. Oil inventories were reported better than expected, and the conflict between Israel and Lebanon seems to be stabilizing nicely.
The dollar strengthened moderately this week gaining against the Euro and Japanese Yen.
There are issues that are still going to need to be addressed in the coming future, including the conflict with Iran, and the coming U.S. elections. However, it seems in the near term the markets are performing nicely, generating returns with potential to cash in on. Until next week have a productive and profitable week!
On another note, we here at Modern Graham would like to take this opportunity to remember all who lost their lives in the tragic terrorist attacks five years ago. Please take a moment to remember all who perished and the heroes protecting our freedom worldwide.