Today marked the last day of trading for the week as Wall Street has off tomorrow for Good Friday. Today was a mixed, roller-coaster kind of day for stocks as the market suffered it’s first losing week in the last 6 weeks. Banking stocks took the brunt of the losses today while Apple stock dropped about a half percent. Oil was also off. It finished down 5% for the week at $39.46 a barrel.
Adam Sarhan, CEO of Sarhan Capital told CNBC:
“I think right now we’re in pullback mode. There’s a lot of profit-taking, end-of-month and end-of-quarter. We’re watching to see if buyers come in to support the market, or if the selling continues.”
The stock market’s negative week, following a 5 week rally has created a scenario that could be worrisome over the next several weeks.
Watch below.
Here are the final numbers from Thursday, 3/24/16 on Wall Street
Dow Jones Industrial Average: 17,515.73 (+13.14/ -.08 %)
NASDAQ: 4,773.50 (+4.63/ +0.10 %)
S&P 500: 2,035.94 (-0.77/ -0.04 %)
