Stocks rallied on this last day of August, which helps the market averages actually show gains for August (which is often a difficult month for stocks). Though we continually get headlines that would concern even the most optimistic investor, it appears the path of least resistance is higher. There were plenty of opportunities for stocks to sell off this summer and all the bears could muster was a 2% selloff. We head into September just slightly off all-time highs.
For the day, the Dow Jones Industrial Average was up 59 points to close at 21,952. The S&P 500 was up 14 points to finish the day at 2,471. Gold was up $13 to trade at $1,327 per ounce, while oil was up $1.13 to trade at $47.09 per barrel WTI.
Once again, I know with our city dealing with so much pain and anguish, the stock market is the last thing on peoples’ minds, so we’ll do our best to be sensitive to what is really important while at the same time trying to do our job and keep everyone up to date with the financial markets.
Stay Strong Houston