Friends
It has been several very trying days for our great city, and I hope all of you are well. The markets have been mostly quiet this week. The North Korean’s launched a missile over Japan on Monday afternoon, and stocks sold off early on Tuesday morning, but recovered to post a gain by the end of the day. Today, we got a nice surprise with the revised 2nd quarter GDP number showing 3% growth, in addition to a better than expect ADP private payroll number. Once again stocks were quiet but with a positive bias.
For the day, the Dow Jones Industrial Average was up 27 points to close at 21,892. The S&P 500 was up 11 points to finish the day at 2,457. Gold was down $4 to trade at $1,314 per ounce, while oil was down $.47 to trade at $45.97 per barrel WTI.
Obviously, what so many are going through is more important than what the stock market did on any given day, but we’ll try to keep you up to date as you are dealing with the aftermath of Harvey. Stay strong Houstonians.
