WOW....seems like a good day and a good week for me. I had a nice hefty gain today with only two stocks in the RED.....MSFT and HD. And both of them came back nicely at the end of the day even though still red. I also beat the SP500 today by 0.16%. Done with the first week of October.
The first week of October. DOW year to date +12.30% DOW five days +0.15% SP500 year to date +21.26% SP500 five days +0.43% NASDAQ 100 year to date +21.05% NASDAQ 100 five days +0.32% NASDAQ year to date +22.84% NASDAQ five days +0.38% RUSSELL year to date +9.94% RUSSELL five days (-0.16%) This week for my entire portfolio....year to date.....+54.58%. Last Friday my entire portfolio year to date.....+52.77%. A very good week as we countdown to year end in 12.5 weeks.
HERE is the week that was. Dow jumps 300 points for record close as September’s big jobs report spurs rally https://www.cnbc.com/2024/10/03/stock-market-today-live-updates.html (BOLD is my opinion OR what I consider important content) "Stocks advanced on Friday after an expectation-defying jobs report gave investors confidence around the health of the economy. The S&P 500 rose 0.9% to 5,751.07, while the Nasdaq Composite jumped 1.22% to 18,137.85. The Dow Jones Industrial Average added 341.16 points, or 0.81%, to notch an all-time closing high of 42,352.75. Stocks rallied after data showed nonfarm payrolls grew by 254,000 jobs in September, far outpacing the forecasted gain of 150,000 from economists polled by Dow Jones. The unemployment rate ticked down to 4.1% despite expectations for it to hold steady at 4.2%. “After a summer of weak labor data readings, this is a reassuring reading that the U.S. economy remains resilient, supported by a healthy labor market,” said Michelle Cluver, head of ETF model portfolios at Global X. “We remain in an environment where good economic news is good news for the equity market as it increases the potential for a soft landing.” Tesla, Amazon and Netflix were among the megacap tech names climbing on Friday, which can help explain the Nasdaq’s outperformance. Financials were the top sector in the S&P 500 during the session, surging 1.6% and closing at a record. JPMorgan Chase and Wells Fargo jumped more than 3% each. On the other end of the spectrum, small cap stocks also rallied, with the Russell 2000 up 1.5%. Friday’s bounce erased losses seen in recent days. Mounting geopolitical tensions in the Middle East gave way to a shaky start in October for stocks, a turn after the market posted an unusually strong first nine months of the year. The S&P 500 finished up 0.22% on the week, while the Dow inched higher by 0.09%. The Nasdaq added 0.1% for the week, a major turnaround given the tech-heavy index came into Friday’s session down more than 1%. Crude oil prices rose again on Friday, bringing the weekly gain to around 9%. Oil has been pushed higher as a result of intensifying conflict in the Middle East after Iran launched a missile attack on Israel. Energy stocks have jumped this week as oil rallied, with the S&P 500 sector up 7%. That marked the group’s best week since October 2022." MY COMMENT We appear to be headed to an epic close to the year. In my day to day life I see much concern with prices and inflation...but little of it seems to be translating to the general economy that I see around me with the exception of restaurants which seem to be taking a real hit lately in my local area. It seems like we have a clear field ahead of us for the markets EXCEPT for one thing......the ELECTION. BUT.....for us little people there is nothing we can do about that except make our one vote. We will just have to live with whatever happens as will all the companies that we own. AND....in general people will get what they vote for and what they deserve.....for better or worse. As I often say....I simply dont care.....other than doing my one vote and just moving on. My focus in on my immediate family and that is about all.
