Friends
Stocks got off to another very rocky start this morning but did recover mostly by early afternoon. The Dow remained the loser for the day while the Nasdaq was able to post a gain, though not much of one after yesterday’s beating. We will begin to get government data next week such as a jobs number for September. I am not sure if there even will be a release for October as the data may not have been gathered. But at least some data will be forthcoming. All this is important leading up to the December Fed meeting.
As for the markets, by the close the Dow Jones Industrial Average was down 309 points to finish the day at 47,147. The S&P 500 was down 3 points to close at 6,734. The Nasdaq Composite Index was up 30 points to close at 22,900. Gold was down $105 to trade at $4,089 per ounce, while oil was up $1.27 to trade at $59.96 per barrel WTI.
The bulls were able to hold on for dear life today, but the bears have done some damage to the technicals and sentiment this week. We’ll marinate some ice cubes this weekend and prepare for what could be another volatile ride next week. In the meantime,…
Have a great weekend everyone.
