Stocks were trading positively until the FED released their minutes from the last meeting. The minutes showed that the central bank is still cautious of risk. No signs were given to any potential further QE – or QE3. This sent stocks straight down, but the markets did rally back a bit heading into the close of the trading session.
The U.S. trade deficit came in below expectations at $48.7 billion in May down from $50.1 in April.
Investors remain wary of corporate earnings fearing that companies will not be beating expectations and guiding down for further quarters. Friday both JPMorgan Chase (JPM) and Wells Fargo (WFC) report earnings. Next week will see a spat of Tech earnings.
The DOW (INDU) fell 49 points at 0.4%. The Nasdaq (COMP) fell 14 points at 0.5%. And the S&P 500 (SPX) ended UNCH (Unchanged).
Oil rose $1.90 to close at $85.81 a barrel.
Gold fell today $9.30 to close at $1,571.60 an ounce.
The 10-Year Note ended flat with the yield holding at 1.50%.