October 7, 2021

October 7, 2021

The volatility that has marked early October continued yesterday with a nearly 500 point Dow decline being erased on news of a possible debt limit deal and that rally continued into trading today on news a debt limit deal had indeed been reached.

At the close:

Dow +338 to 34755

S&P 500 +36 to 4400

NASDAQ +152 to 14654

Oil +1.30 to 78.75

Gold -6 to 1756

In corporate news rising cotton prices had been weighing on the shares of Levi Strauss, but the stock was 8.5% higher today after the company reported revenue above expectations and net income 30% higher than what analysts had predicted.  Shares of Costco were fractionally higher after the retail giant reported same store sales for September were nearly 10% above last year.  IBM became the latest company to mandate vaccines, or you go on unpaid leave.

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