Friends
Hopeful comments from the Speaker of the House turned stocks this morning from a selloff to a rally, but as we know these moves have been tentative lately. We are seeing some positive signs in the economy just as we are seeing Covid-19 cases rise. So the message is mixed as is the message we are getting from corporate America. Coca-Cola had an earnings report that investors seemed to like, but Kimberly-Clark’s report was met with disappointment.
As for the market, by the close the Dow Jones Industrial Average was up 152 points to finish the day at 28,363. The S&P 500 was up 17 points to close at 3,453. The Nasdaq Composite Index was up 21 points to close at 11,506. Gold was down $22 to trade at $1,907 per ounce, while oil was up $.62 to trade at $40.65 per barrel WTI.
More earnings after the bell, and then we’ll see another busy week of earnings next week. In the meantime, market participants continue to monitor the stimulus deal talks and of course we will be treated to another Presidential Debate tonight. Let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
