Friends
Not so fast. Maybe there will be some type of stimulus deal before the election. Then again, maybe there won’t. Today, market participants were influenced by headlines indicating that there might be something worked out with regards to stimulus-piecemeal anyway. Of course, the minute I write this a tweet could change perception in a flash. So, we rally on hope of a deal and tend to sell off when those hopes are dashed. I suspect we are going to see this type of action up until the election.
As for today, by the close the Dow Jones Industrial Average was up 530 points to finish the day at 28,303. The S&P 500 was up 58 points to close at 3,419. The Nasdaq Composite Index was up 209 points to close at 11,364. Gold was down $20 to trade at $1,888 per ounce, while oil was down $.68 to trade at $39.99 per barrel WTI.
Speaking of the election and the markets, we will be sending out our quarterly piece tomorrow. In the meantime continue to keep buckled up. The ride should continue to be wild.
Have a nice evening everyone.
