Friends
As we were wrapping up trading for the month of October last Friday, stocks had a strange close-falling some 90 Dow points seemingly in just minutes. It didn’t do a whole lot of damage to the month because the bulls had already seen to it that October was a good one for stocks, but the drop seemed to come out of nowhere. Well, the bulls got their mojo back and took charge again this morning pushing stock prices nicely higher for the rest of the trading session.
For the day, the Dow Jones Industrial Average was up 165 points to close at 17,828. The S&P 500 was up 24 points to finish the day at 2104. Gold was down $8 to trade at $1132 per ounce as the strong dollar continues to weigh on the precious metal, while oil was down $.47 to trade at $46.12 per barrel WTI.
We have more earnings reports to pour through this week in addition to plenty of economic data points with the big one being the employment picture on Friday. Mixed in we have a speech from Janet Yellen on Wednesday, so the Fed will be part of the equation this week too. We’ll keep track of it all for you and let you know what transpires.
Have a nice evening everyone.
