Stocks Tumble

Oct 24, 2018 | Market Commentary

Friends  

Checking in again from the road. As we mentioned, we’re likely not done with the volatility, and the ever increasing tensions on the political landscape aren’t helping.  

For the day, the Dow Jones Industrial Average was down 608 points to finish the day at 24,583. The S&P 500 was down 84 points to close at 2656. Gold was down $1.30 to trade at $1,235 per ounce, while oil was down $.17 to trade at $66.26 per barrel WTI.  

This mess will take some time to play out so be patient and we’ll look for opportunities. Times like these are expected and part of the process.  

Have a nice evening everyone.

Recent Posts

Tech Stocks Continue to Drag Market Lower

Tech Stocks Continue to Drag Market Lower

Friends The weakness in tech/AI stocks continues and the market averages, especially the Nasdaq, continue to lose ground as we get closer to year end. Instead of taking a victory lap the stocks that have been the leaders all year long are now cowering nervously in the...

Stocks Mostly Lower after Employment Data Release

Stocks Mostly Lower after Employment Data Release

Friends This morning’s release of the November non-farm payroll number showed that 64,000 new jobs were added, which was better than analysts had expected. The unemployment rate did tick up to 4.6%, which was actually more than expected. It’s hard to determine if this...

Stocks Soft As Economic Data Looms

Stocks Soft As Economic Data Looms

Friends Today was pretty much the same script we have seen over the past couple of weeks. The AI/big tech names came under selling pressure enough to take the market averages into negative territory. It’s hard to read too much into recent market action as we are so...