The Closing Look

Stocks were quiet Wednesday as the market paused to digest the recent and strong ~8% post Brexit rally. Economic data was relatively light, U.S. import prices rose +0.2% last month and missed estimates. Meanwhile, export prices rose +0.8%. The Fed’s Beige Book showed the economy continued to moderately grow. Elsewhere, oil prices fell after the International Energy Agency (IEA) warned that the supply glut will adversely affect prices and U.S. crude and product supplies hit a record.

Gary’s Thoughts: A sit day…nothing wrong with that…and tomorrow, the UK will announce more easing…thus…?