September 16, 2021

September 16, 2021

Buy the dip has been a good strategy over the past 18 months and after a rough start for the month the S&P 500 did rally nearly 1% yesterday but was well into the red today until a tech led rally brought the widely followed index back to just a fractional loss.

At the close:

Dow -63 to 34751

S&P 500 -7 to 4474

NASDAQ +20 to 15182

Oil unchanged at 72.60

Gold -40 to 1754

In corporate news shares of China related stocks like Alibaba, Bidu, Wynn & Las Vegas Sands continued under pressure today on uncertainty about tighter regulations from the Chinese Government. Shares of delivery service Door Dash are up 60% in the last 6 months and moved higher today after Bank of America raised the shares to a buy.  Beyond Meat was lower today on a Piper Sandler downgrade on the belief business is lagging expectations.

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