Bond market was closed for Columbus Day, but most other markets were open.
Monday, the US stock benchmarks finished sharply higher as investors bought mega tech giants and focused to corporate earnings starting this wk.
The moves come against the backdrop of the coming Presidential election and continuing talks for another round of medical chaos stimulus.
With less than 3 wks to the Presidential election, investors are now focusing on the outlook for the GOP controlling both houses of Congress and the White House as the Democrats likability fade from light green to black.
Prospects for another fiscal stimulus package is live even as Democrats at the weekend rejected a $1.9-T proposal from Treasury Secretary Mnuchin, representing The Trump Administration’s generous aid proposal for this round.
During a TV interview President Trump cast Speaker Pelosi (D-CA) as a point of resistance in getting additional help for out-of-work Americans and troubled businesses. “Republicans want to do it. We are having a hard time with Nancy Pelosi,” he said Sunday.
S&P 500 companies’ overall earnings performance are expected to be not a bad than Q-2, when the instant recession earnings fell the most since the Y 2008 financial crisis. So far Key stocks: JPM, C and JNJ finished up ahead of their calls.
Monday, the major US stock market indexes finished at: DJIA +250.62 at 28837.46, NAS Comp +296.32 at 11876.19, S&P 500 +57.09 at 3534.2
Volume: trade on the NYSE came in at light at 747-M/shares exchanged.
HeffX-LTN’s overall technical outlook for the benchmark indexes is Bullish with a Very Bullish bias as they run to new all time highs, expect very soon.
- NAS Comp +32.4% YTD
- S&P 500 +9.4% YTD
- DJIA +1.1% YTD
- Russell 2000 -1.2% YTD
Looking Ahead: The Consumer Price Index for September, the Treasury Budget for September, and the NFIB Small Business Optimism Index for September are scheduled Tuesday.
Have a healthy day, Keep the Faith!