Friends
Well, well, well. A hint that there might be a short term solution at hand (and I do mean short term), and the bears run for the hills. It sure looked like stocks would be in constant decline until that October 17th deadline, but an afternoon meeting at the White House has market participants striking a hopeful pose. I sure expected the politicians to take us right to the brink (and they still might), but for the moment a deal is anticipated and the bulls had their best day in some time.
By the close, the Dow Jones Industrial Average was up 323 points to close at 15,126. The S&P 500 was up 36 points to close at 1692. Gold was down $19 to trade at $1288 per ounce, while oil was up $1.29 to trade at $102.90 per barrel WTI. The bulls were able to repair some of the technical damage done the past couple of weeks, but again, we caution everyone that the news headlines can change quickly. Let’s hope the politicians are on the path to something substantial, but a little pessimism may be warranted.
We sent out our 4th Quarter Outlook this morning. Let us know if you did not receive it. Clients will receive a hard copy with their statements. Also we have added our recently filmed commercial to our website www.chjwealthmanagement.com. It is mainly running in the Woodlands, but we thought you might get a kick out of it, so we wanted to bring it to your attention. Let us know what you think.
Have a nice evening everyone.
