Friends
So much for concerns about the government shutdown. Market participants were tentative in early trading, but by this afternoon the market averages were trading comfortably in positive territory. Traders have been conditioned to think that these budget wars don’t typically last very long. At the moment, it appears that both sides are unwilling to budge, but as we know things can change quickly. So far, investors don’t appear too concerned.
As for today, by the close the Dow Jones Industrial Average was up 43 points to finish the day at 46,441. The S&P 500 was up 22 points to close at 6,711. The Nasdaq Composite Index was up 95 points to close at 22,755. Gold was up $22 to trade at $3,895 per ounce, while oil was down $.34 to trade at $62.03 per barrel WTI.
Remember, we will not get government data if the shutdown continues into the end of the week, so this Friday’s jobs report will possibly be delayed. For now, I guess we just wait to see if a resolution is reached soon.
Have a nice evening everyone.
