Friends
As voters were casting their ballots today, stocks moved higher for the most part. We should have election results in this evening, or tomorrow morning, or- well who knows. Anyway, it is expected that the Republicans will take the House while the Senate might be close either way. Whatever the case, we are likely to have split government and stalemate for the next 2 years. In general, it is likely that market participants will be fine with that.
For the day, the Dow Jones Industrial was up 333 points to close at 33,160. The S&P 500 was up 21 points to finish the day at 3,828. The Nasdaq Composite Index was up 51 points to close at 10,616. Gold was up $34 to trade at $1,715 per ounce, while oil was down $2.54 to close at $89.25 per barrel WTI.
Other than election results, the big economic data point this week is the CPI report on Thursday. The Fed will be laser focused on that as will market participants. Stay tuned, it’s going to be an interesting few days ahead.
Have a nice evening everyone.
