Friends
The bulls are trying to erase the memories of what up until recently was a difficult August for stocks. Share prices moved higher today led by tech giants and the Nasdaq. Softer job opening and confidence data provided the backdrop for a move lower in interest rates and the lowering of the odds of a rate hike by the Fed next month. All good fuel to help stocks move higher.
By the close, the Dow Jones Industrial Average was up 292 points to finish the day at 34,852. The S&P 500 was up 64 points to close at 4,497. The Nasdaq Composite Index was up 238 points to close at 13,943. Gold was up $19 to trade at $1,965 per ounce, while oil was up $1.13 to trade at $81.23 per barrel WTI.
We will get more employment data this week including the all-important non-farm payroll number on Friday. In the meantime, let’s see if the bulls can continue to press the action into month end on Thursday.
Have a nice evening everyone.
