Diamonds and Dogs
Happy Birthday America!!Happy Birthday America!
Markets traded lower into the close of the week on very slow volume. The week before the 4th is traditionally one of the slowest of the year as market players head to their beach homes and mountain cabins. On the bank closure watch, two more banks failed today, which brings the year total to 47 failed FDIC institutions. With this news, combined with negative news out of California, unemployment unabated, and some earnings hiccups, stocks could not find their footing. For the year, the Dow and the S&P are still both negative, even coming off last quarter, which ended this week with the best quarterly performance in about 6 years. The second week of July will begin earnings season in earnest. Have a happy and safe holiday weekend.