Friends
Well, I guess all is ok at Deutsche Bank- at least for today. The beleaguered German bank’s stock reversed early losses and posted a nice gain for the day, and it appeared that stocks in general took their cue from relative calm around the Deutsche Bank’s issue, and the market averages soared into the close.
For the day, the Dow Jones Industrial Average was up 164 points to close at 18,308. The S&P 500 was up 17 points to finish the day at 2,168. Gold was down $5 to trade at $1,320 per ounce, while oil was up $.26 to trade at $48.09 per barrel WTI.
Stocks showed gains for the first nine months of the year, with shares that are defensive in nature leading the way. What does the 4th quarter have in store for us? Politics will surely be in focus as we’ll be electing a new president during the quarter. Before that, we get a look at third quarter GDP and of course corporate earnings season kicks off in a couple of weeks. It should be an interesting next three months. We’ll keep you up to date with all the goings on. Stay tuned.
Have a great weekend everyone and enjoy this fantastic weather.
