Friends
Stocks got a boost midday on constructive comments from the Speaker of the House about a stimulus deal, but seemed to begin to doubt that a deal could actually get done and passed before Election Day. But, stocks were able to post decent gains for the day as earnings season starts to roll out in force. Procter & Gamble had a very good report, and the stock was higher, but it appears a lot of the good news was already priced into the shares. That’s what we’ll be watching over the coming days and weeks.
As for today, by the close the Dow Jones Industrial Average was up 113 points to finish the day at 28,308. The S&P 500 was up 16 points to close at 3,443. The Nasdaq Composite Index was up 37 points to close at 11,516. Gold was up $2 to trade at $1,913 per ounce, while oil was up $.68 to trade at 441.51 per barrel WTI.
The markets will continue to be on stimulus bill watch while continuing to monitor corporate earnings reports. We’ll watch Netflix earnings after the closing bell today. It has been a recipient of the stay at home Covid-19 pandemic economy, so we’ll see if that continues. With a presidential debate on tap this week too, it should continue to be a week of headlines. Stay tuned.
Have a nice evening everyone.
