Friends

Stocks got off to a good start for the week with the Nasdaq recovering half of Friday’s losses. It’s always nice to see a positive day for stocks on the anniversary of Black Monday. For you youngsters out there, back on Monday October 19^th, 1987, the stock market saw its biggest one-day loss ever as the Dow fell 22.6%. I was “lucky” enough to experience that in what was my 3^rd year as a financial consultant at Merrill Lynch. Ah, the memories.

Anyway, I digress. Let’s take a look at who’s on the earnings calendar this week. First up will be Space Ex tomorrow along with GE, Netflix, GM, and 3M. On Wednesday, we hear from Meta, Tesla, IBM, and Abbott. Thursday brings us P&G, Union Pacific, Lockheed Martin, and Honeywell. On Friday we’ll hear from American Express.

As for today, by the close the Dow Jones Industrial Average was down 36 points to finish the day at 51,966. The S&P 500 was up 31 points to close at 7,690. The Nasdaq Composite Index was up 290 points to close at 26,430. Gold was down $19 to trade at $4,161 per ounce, while oil was up $2.09 to trade at $103.50 per barrel WTI.

Earnings will be front and center for the next couple of weeks. Let’s see how corporate America is doing.

Stay tuned.

Have a nice evening everyone.

Jim