Friends
Well, it worked. We closed the office today in anticipation of additional flooding in The Woodlands area and sure enough the major rain mainly avoided us. Now, at least, we know how to stop the rain. As for the markets, it was a quiet day, though we did have a little volatility as an 80 point Dow loss turned into a modest gain. It appears that market participants are focused on tomorrow’s non-farm payroll number. Today’s ADP private payroll number came in just about as expected, so it didn’t appear to have any effect on the direction of stocks. Let’s see if tomorrow’s government report gets the juices flowing.
By the close, the Dow Jones Industrial Average was up 48 points to finish the day at 17,838. The S&P 500 was up 5 points to close at 2105. Gold was down $1 to trade at $ 1,213 per ounce, while oil was down $.01 to trade at $49.00 per barrel WTI.
Hopefully, this rain will be ending soon and here in southeast Texas we can get back to “normal”. In the meantime, let’s see what that jobs number looks like tomorrow and how the markets react to it.
Have a nice evening everyone.
