Friends
With the news that Congress has approved a deal to delay the debt ceiling game of chicken until December, stocks got quickly out of the starting gates. The Dow was sporting a 500 point game by mid-morning, but as the afternoon wore on the bulls pulled back their horns a bit and stocks lost a little of their early momentum.
Nevertheless, by the close the Dow Jones Industrial Average was up 337 points to finish the day at 34,754. The S&P 500 was up 36 points to close at 4,399. The Nasdaq Composite Index was up 152 points to close at 14,654. Gold was down $5 to trade at $1,756 per ounce, while oil was up $1.32 to trade at $78.75 per barrel WTI.
It has been another very volatile week and we still have tomorrow’s non-farm payroll number. Estimates are for about 500,000 new jobs to have been created in September. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
