The dollar was up again but oil was down, and so followed the markets today. Consumer confidence continues to rise slowly which fuels the fire of another possible rate hike by the Fed.
Eric Chemi wrote an interesting piece for CNBC today with the headline:
“A Market Adrift, Tied To Nothing, Confusing Everybody”
Sounds encouraging for investors, right? In the story Chemi surmised as to why stocks have left traders so confused that nobody knows what they’re tied to, and nobody has a good sense for where they’re going.
“Stocks are just doing their own thing, which is why they’ve been so confusing for traders over the last few weeks. It’s an environment that could be conducive to stock pickers but rough on trend followers.”
Read the who story here.
Here are the final numbers from Tuesday, August 30th, 2016 on Wall Street:
Dow Jones Industrial Average: 18,454.30 (-48.69 / -0.26%)
NASDAQ: 5,222.99 (-9.34 / -0.18%)
S&P 500: 2,176.12 (-4,26/ -0.20%)