Friends
After some early back and forth, market participants decided that the likely end to the government shutdown was good for stocks and the market averages moved nicely higher by the close of the trading session. Big Tech names led the way after suffering the wrath of nervous sellers last week.
By the close, the Dow Jones Industrial Average was up 381 points to finish the day at 47,368. The S&P 500 was up 103 points to close at 6,832. The Nasdaq Composite Index was up 522 points to close at 23,527. Gold was up $110 to trade at $4,120 per ounce, while oil was up $.35 to trade at $60.10 per barrel WTI.
As mentioned, the big tech names led the market averages higher again today. Pundits continue to be concerned about valuation in these big names, but investors continue to use pullbacks to buy shares. We’ll see if we can get the government shutdown behind us and rally into holiday season. Stay tuned.
Have a nice evening everyone.
