Friends
After a somewhat weak opening, some “bargain” hunters showed up to push the market averages higher in afternoon trading. The big growth names were the winners today, with the Nasdaq leading the other market averages higher. Nothing much changed on the economic front, with continued political wrangling seemingly making it next to impossible to get a much need stimulus deal done before the election. Yes, the market has come back from the March lows, but the number of businesses, especially restaurants, that have closed and likely won’t reopen continues to grow. This shut down wasn’t their fault, and we need to do all we can to help them out. Both parties know that.
As for today, by the close the Dow Jones Industrial Average was up 140 points to finish the day at 27,288. The S&P 500 was up 34 points to close at 3,315. The Nasdaq Composite Index was up 184 points to close at 10,963. Gold was down $3 to trade at $1,906 per ounce, while oil was up $.24 to trade at $39.55 per barrel WTI.
We have gotten more and more questions about the upcoming election in the past few weeks, so I’ll address some of that in a video this week, and then at the end of the month in the quarterly update. Suffice to say, there’s a lot to consider. Stay tuned.
Have a nice evening everyone.
Jim
