Friends
As we appear to be headed for a government shutdown, stocks actually rallied into the close to finish out the quarter on a high note. As for the government shutdown, we’ve obviously been down this road before. In the past the effects on the stock market have been limited. Will this time be different? We will see.
As for today, by the close the Dow Jones Industrial Average was up 81 points to finish the day at 46,397. The S&P 500 was up 27 points to close at 6,688. The Nasdaq Composite Index was up 68 points to close at 22,660. Gold was up $28 to trade at $3,883 per ounce, while oil was down $.94 to trade at $62.51 per barrel WTI.
It was another good quarter for the bulls. Typically, August and September can be challenging months for stocks, but not this year. Anyway, with regards to a government shutdown, if it does happen, we might not get the employment report on Friday. Of course, that report will be a big influence on upcoming Fed policy decisions. So, for now we will just take it day by day until there is a resolution on Capitol Hill. Then in coming weeks we will be immersed in corporate earnings season. Never a dull moment.
Have a nice evening everyone.
