Friends
It was a good start to the week for stocks. The market averages opened higher and for the most part held on to their gains throughout the entire trading session. Once again, there seems to be some hope that a stimulus deal could come out of Congress before the election. Now, I don’t want to throw a wet blanket on hope and enthusiasm, but I am still skeptical that any kind of deal will be done until after the election.
For the day, the Dow Jones Industrial Average was up 410 points to close at 27,584. The S&P 500 was up 53 points to finish the day at 3,351. The Nasdaq Composite Index was up 203 points to close at 11,117. Gold was up $17 to trade at $1,884, while oil was up $.33 to trade at $40.58 per barrel WTI.
We have a lot on our plate this week with the Presidential Debate tomorrow night, many economic data points including Case-Shiller national home price index, the ADP private payroll number, a GDP revision, Chicago PMI, pending home sales, weekly jobless claims, ISM manufacturing, personal income, consumer spending, factory orders, and finally the non-farm payroll number on Friday. Buckle up, it should be a busy week ahead.
Have a nice evening everyone.
