Friends
Well today, stocks were able to hold onto early gains. Yes, just as was the case yesterday, stocks got off to a fairly good start today and by midday the Dow was sporting a nifty 100 point gain. With Rosh Hashanah beginning this evening, trading began to slow to a crawl in the afternoon but stocks were able to remain firmly in positive territory.
By the close, the Dow Jones Industrial Average was up 96 points to finish the day at 14,930. The S&P 500 was up 13 points to close at 1653. Gold was down $18 to trade at $1393 per ounce, while oil was down $1.25 to trade at $107.29 per barrel WTI.
We get a whole lot of employment data over the next couple of days, with tomorrow’s ADP number and the weekly jobless claims. Of course, on Friday, we get the all-important non-farm payroll number. This employment data is very important and is likely to shape what happens at this month’s FOMC meeting (to taper or not to taper). Of course, with Congress in the process of giving the President the go ahead on action in Syria, quick market movements could happen at any moment. We’ll watch the next couple of days and let you know how it all goes.
Have a nice evening everyone.
