Friends
It was a somewhat quiet day with respect to volatility, but all in all it was a positive day for the bulls as we wind down to the end of the 3rd quarter. The final read on 4th quarter GDP was revised downward, and again feeds into the narrative that the economy is slowing. Indeed, the collapse in long term yields is the story at the moment. How stocks will fare in this environment is up for debate.
By the close, the Dow Jones Industrial Average was up 91 points to finish the day at 25,717. The S&P 500 was up 10 points to close at 2,815. Gold was down $21 to trade at $1,295 per ounce, while oil was down $.01 to trade at $59.50 per barrel WTI.
It’s been a good quarter for stocks and bonds (prices), especially after the mess that was the 4th quarter of 2018. The bulls have recaptured 2800 on the S&P and are trying to hold on to that accomplishment. Let’s see if they can close the deal tomorrow and end the quarter on a high note. We’ll let you know how things finish out tomorrow. Remember, if you haven’t signed up for our new reporting portal, give us a call and we will send you the link again.
Have a nice evening everyone.
