Friends
Stocks struggled today although the market averages rebounded somewhat from their lows of the day. It appears that market participants, despite strong consumer confidence numbers might have been a bit concerned about the Presidential debate tonight and how the markets may interpret it all tomorrow (of course the rise in Covid-19 cases in places like New York City also weighed on investors’ minds) .
Anyway, by the close the Dow Jones Industrial Average was down 131 points to finish the day at 27,452. The S&P 500 was down 16 points to close at 3,335. The Nasdaq Composite Index was down 32 points to close at 11,085. Gold was up $18 to trade at $1,900 per ounce, while oil was down $1.63 to trade at $38.97 per barrel WTI.
Well, I guess we’ll get some popcorn and our favorite beverage ready for tonight’s nationally televised Presidential debate. I’m guessing the markets would like to see some civility, class and thoughtfulness come from tonight’s proceedings. If it devolves into a food fight, I’m guessing the markets might show some concern tomorrow. Buckle up.
Have a nice evening everyone.
