Stocks Stagger Into New Week

It was an unruly start to the trading week, as Veterans Day ushered in sellers of stocks and kept a lid on bids.

The Dow Jones Industrial Average, which opened at the low of the day, was off 164 points, but gathered momentum throughout the session and finished with the only positive close amongst the major indices.

Otherwise, everything else held fairly steady throughout the US session, with gold hitting a three-month low at 1448.90 and silver remaining below $17/ounce. The 10-year note held firm with a yield of 1.93% as bond markets were closed for the holiday.

As Mondays go, this one was lacking in luster. Big hitters in the market may be waiting for President Trump's speech on trade at the Economic Club of New York Tuesday afternoon, so Tuesday could also be something of a disappointment for those craving more excitement.

This temporary lull is likely a good thing for stocks, giving investors time to gather up the courage to trade stocks to even higher highs. Already at or near all-time highs, buying stocks at this level may be viewed as unnecessarily risky. The Shiller PE, or CAPE, stands at 30.01, nosebleed territory.

At the Close, Monday, November 11, 2019:
Dow Jones Industrial Average: 27,691.49, +10.25 (+0.04%)
NASDAQ: 8,464.28, -11.04 (-0.13%)
S&P 500: 3,087.01, -6.07 (-0.20%)
NYSE Composite: 13,388.12, -19.69 (-0.15%)