Friends
Where do I start? News of the President doing well with his Covid-19 treatments helped fuel an early rally in stocks. Then after things had settled in for the day, news that the President was going to be heading back to the White House late this afternoon, gave stocks another shot of adrenaline (or should I say Dexamethasone?) It’s been quite a roller coaster ride since Friday afternoon when we discovered that the President and others at the White House had contracted the virus. Things are moving so fast it is hard to keep up.
As for stocks, by the close the Dow Jones Industrial Average was 465 points to finish the day at 28,148. The S&P 500 was up 60 points to close at 3,408. The Nasdaq Composite Index was up 257 points to close at 11,332. Gold was up $10 to trade at $1,917 per ounce, while oil was up $2.30 to trade at $39.35 per barrel WTI.
We knew it was going to be a wild ride from now until election day, but the President contracting Covid-19 just added a little extra chaos to the situation. You know I stay out of political commentary in these emails, so I’ll just let you talk amongst yourselves with regards to the chaos, the tweets, the media, contagiousness, masks, steroids, experimental drugs, and the general craziness of it all.
Have a nice evening everyone.
Jim
