Friends
It’s been a difficult month for stocks, but the bulls did show up this afternoon with their shopping list. There is some hope that a stimulus bill could be crafted and passed but that seems pretty unlikely before the election, but who knows? We saw the reopen stocks rally today, like cruise lines, so some investors are looking past the election and hoping things will get back to “normal” sooner than later. Hopeful thinking?
Anyway, by the close the Dow Jones Industrial Average was up 358 points to finish the day at 27,173. The S&P 500 was up 51 points to close at 3,298. The Nasdaq Composite Index was up 241 points to close at 10,913. Gold was down $10 to trade at $1,866 per ounce, while oil was down $.13 to trade at $40.18 per barrel WTI.
We have a few more trading days left in September, so we’ll see how the month and quarter finish up before we look ahead to the fourth quarter. Of course, the upcoming quarter will contain a contentious Presidential Election, so we likely will have a lot of ebbs and flows ahead. We are almost done with ¾ of this dreadful year. Only one quarter left to go. Bring it on.
Have a great weekend everyone.
