September got off to a decent start for stocks despite a less than stellar jobs report. 156,000 new jobs were created in August and the unemployment rate came in at 4.4%. Average hourly earnings continue to tick up but at a snail’s pace. Fed watchers seem to think that the odds of any more rate hikes this year continue to decline given these numbers and other recent data.
As for stocks, for the day the Dow Jones Industrial Average was up 39 points to close at 21,987. The S&P 500 was up 4 points to finish the day at 2,476. Gold was up $7 to trade at $1,330 per ounce, while oil was up $.05 to trade at $47.28 per barrel WTI.
It’s been a very difficult week for so many of you and our thoughts and prayers are with you. Please let us know how we can help. In the meantime, we’ll continue to do our job managing your investments and keeping you informed on the news of the day. You’ve entrusted us with your financial future and we know how important that is, especially at times like this. We’ll be here for you.
Remember, Monday is Labor Day so we will be back in the office on Tuesday.
Stay Strong Houston.