As we prepare for a very busy week that will include a full calendar of corporate earnings, a Fed meeting which might result in a Fed Funds rate cut, and a full calendar of economic releases, stocks pushed to record all-time highs for the S&P 500 in today’s trading session. The Dow still has yet to reach previous highs, but the S&P was finally able to reach these new highs after many attempts.
By the close, the Dow Jones Industrial Average was up 132 points to finish the day at 27,090. The S&P 500 was up 16 points to close at 3,039. Gold was down $11 to trade at $1,494 per ounce, while oil was down $.86 to trade at $55.80 per barrel WTI.
In addition to the companies reporting this week (many of which we listed on Friday), the economic calendar includes home prices, consumer confidence, ADP private payrolls, 3rd quarter GDP numbers, personal income, consumer spending, core inflation, ISM Manufacturing, and finally the government jobs report on Friday which includes non-farm payrolls, the unemployment rate and average hourly earnings. Is that enough for you? Oh, and of course we’ll find out what the Fed does on Wednesday. Stay tuned and buckle up.
Have a nice evening everyone.