Friends
Stocks came under heavy selling pressure at the open this morning, and the sellers continued to keep up the assault as the trading session wore on. Sure, investors are concerned that a stimulus deal will not get done before the election, but the rapid rise of Covid-19 cases sent the “reopen” stocks tumbling and cast a pall on the proceedings. The combination of no stimulus deal, rising Covid-19 cases and political uncertainty is a lot to handle for market participants.
For the day, the Dow Jones Industrial Average was down 650 points to close at 27,685. The S&P 500 was down 64 points to finish the day at 3,400. The Nasdaq Composite Index was down 189 points to close at 11,358. Gold was down $1 to trade at $1,904 per ounce, while oil was down $1.31 per barrel WTI to trade at $38.54.
Remember, we have a lot of earnings reports to deal with this week including Apple, Microsoft, Amazon and Google. And, of course, the election is just a week away. Buckle up.
Have a nice evening everyone.
