Investors (if that's what they're being called these days) are largely on hold in advance of Fed Chair Janet Yellen's speech at Jackson Hole tomorrow and a return to what passes for normal conditions following the Labor Day holiday.
Essentially, stocks have been treading water for the past month, since setting new all-time highs mid-July and making a double top earlier this month.
For whatever it's worth, the one bid by the Fed and its central bank allies has produced a very dull market, if that's what we're calling it these days.
Of particular note is the current odds for a rate hike in September, currently hovering around 18%. For a December rate hike, it's basically a 50-50 proposition, though neither is actually very likely considering the fragility of the global economy.
Thursday's Closing Prices:
Dow Jones Industrial Average
18,448.41, -33.07 (-0.18%)
5,212.20, -5.49 (-0.11%)
2,172.47, -2.97 (-0.14%)
10,780.23, -10.95 (-0.10%)