Friends
It is really hard to read much into the market action over the past two trading sessions. There has been an upward bias to the proceedings, but with the election results looming, volume has been light and volatility has been limited. But, having said that, stocks did enjoy another nice advance and the bulls will take it.
By the close, the Dow Jones Industrial Average was up 173 points to finish the day at 25,635. The S&P 500 was up 17 points to close at 2,755. Gold was down $4 to trade at $1,227 per ounce, while oil was down $.95 to trade at $62.15 per barrel WTI.
Of course, all eyes will be on the election results tonight. Many believe a sweep by the Democrats would cause some concern among market participants, while a sweep by the Republicans would provide a catalyst. A mixed result, which might be the most likely, is the most difficult to read, and thus the cautious tone amongst investors. Let’s see what we have to deal with in the morning. Stay tuned.
Have a nice evening everyone.
