Friends
I get butterflies every morning when I turn on my phone and check the news. Today’s tragedy just made my heart sink. I know this is the world we live in, but that doesn’t make it any easier to deal with. Anyway, despite the horror in Las Vegas and the continuing hardship in Puerto Rico, the markets trade, and on this first day of the new quarter stocks continued to advance. A robust ISM Manufacturing number helped set the tone and the bulls were off and running for the new quarter.
By the close, the Dow Jones Industrial Average was up 152 points to finish the day at 22,557. The S&P 500 was up 9 points to close at 2,529. Gold was down $9 to trade at $1,275 per ounce, while oil was down $1.13 to trade at $50.54 per barrel WTI.
Remember, it’s employment week as we’ll get the ADP private payroll number on Wednesday and then the non-farm payroll number on Friday. Earnings season won’t hit its stride for a couple of weeks, so the bulls seem to have a bit of a clear path for a week or two. Of course, who knows what news story I’ll find on my phone at 6:00 tomorrow morning.
Have a nice evening everyone.
Stay Strong Houston
