Friends
It was quite a day for stocks. After a triple digit decline for the Dow, led by a downturn in Apple shares due to rumored weakness of sales for the iPhone 8 and concerns of China’s overvaluation, stocks spent the rest of the session climbing out of negative territory. It really looked like the bears might finally have something to cheer about.
By the close, the Dow Jones Industrial Average was up 5 points to finish the day at 23,163. The S&P 500 was up less than a point to close at 2,562. Gold was up $5 to trade at $1,288 per ounce, while oil was down $.68 to trade at $51.36 per barrel WTI.
Being October 19th, most of the talk on the business stations was about the crash in 1987. We covered that earlier in the week, but it does seem to make investors stop and take pause when considering where we are with regards to stock prices and valuation today. It’s as if the stock market said to investors today – this ain’t 1987.
Have a nice evening everyone.
Stay Strong Houston
Go Astros- you can still do this.
