Friends
It was a very mixed day for stocks. After earnings from the likes of Caterpillar and 3M, the industrials came under selling pressure, while at the same time the big tech names saw a lot of buying activity sending the tech heavy Nasdaq up nicely for the day. After the closing bell, we’ll get Microsoft’s earnings and remember we get Google, Amazon and Apple later in the week. Are we back to the open economy market vs. the Covid-19 shut down economy type of market?
As for today, by the close the Dow Jones Industrial Average was down 222 points to finish the day at 27,463. The S&P 500 was down 10 points to close at 3,390. The Nasdaq Composite Index was up 72 points to close at 11,431. Gold was up $4 to trade at $1,910 per ounce, while oil was up $.89 to trade at $39.45 per barrel WTI.
So, once again many stocks came under selling pressure today for whatever reason one wants to apply- politics, Covid-19, earnings or just good ole fashion uncertainty. It’s likely to be a nervous market from now until Election Day. It’s 2020, we wouldn’t expect anything different.
Have a nice evening everyone.
