Friends
A fitting ending to a crazy week. Stocks rallied nicely today after suffering a difficult week. A good non-farm payroll number, 248,000 new jobs having been created in September, helped fuel the advance, but later in the morning stocks seemed to find a second gear. As we mentioned earlier in the week, volatility is back.
By the close, the Dow Jones Industrial Average was up 208 points to finish the day at 17,009. The S&P 500 was up 21 points to close at 1967. Gold was down $23 to trade at $1192 per ounce, as the precious metal continues to crater, while oil, which also continues to dive, was down $1.31 to trade at $89.70 per barrel WTI.
This week’s volatility just might be attributable to not only mixed signals from domestic economic data, but continuous disturbing headlines from around the world. Of course, Europe and Asia continue to struggle which makes the U.S. economy look strong by comparison. It seems likely that we are going to have to deal with this volatility as the 4th quarter unfolds, so buckle up and keep your hands and feet inside the ride. We’ll be keeping an eye on it all for you.
Have a great weekend everyone and enjoy this great weather.
