Friends
Florida got hit bad by hurricane Irma, but it wasn’t quite the destructive blow that many had feared. Add that to the fact the North Koreans didn’t fire any missiles or do additional nuclear tests over the weekend, and market participants were poised and ready to do some buying as stocks opened for trading. The Dow surged ahead more than 200 points early in the trading session, and the bulls were able to hold onto the gains.
By the close, the Dow Jones Industrial Average was up 259 points to finish the day at 22,057. The S&P 500 was up 26 points to close at 2,488. Gold was down $20 to trade at $1,331 per ounce, while oil was up $.56 to trade at $48.04 per barrel WTI.
It’s a quiet week on the economic front until Friday where we’ll get retail sales numbers, industrial production, business inventories and consumer sentiment. Hopefully, weather is not an item this week, but of course you never know what type of storm could brew in Washington D. C. these days. We’ll let you know how the week plays out. Stay tuned.
Stay Strong Houston.
