Another totally uneventful day of summer stock market trading, as stocks moved gracefully back and forth the even line. In the end, they ended up modestly higher.
But first, the scoreboard:
S&P 500: +1.88
- News was quiet as investors are in a holding pattern ahead of the coming earnings season. Things will get kicked off after the bell today with Alcoa. CSX also comes out with numbers.
- News out of Europe was fairly quiet, with more chatter about stress tests and such. One report suggested that as many as 15% of those banks assessed may “fail” the stress tests, whatever that means. There was generally good news out of China, although there was also chatter about the property market cooling.
- BP continues to see a glimmer of optimism, with talk that the well could be capped within days, or possibly even today. The stock was up 8% today.
- Gold continues to lack luster, ending the day right around $1200.