Mid-day Update

This is turning into a very good day! As of 12:59 pm, the Dow is holding onto its gains, currently +171 points and within 80 points of breaking 11,000. Woo! The S&P 500 is also having a very strong day, up 21 and closing in on 1,160. The Nasdaq is up 50. The 30-year Treasury is currently at 3.73%.

The stock market is holding on to its gains partly thanks to the Bank of Japan’s decision to cut its key interest rate to 0%. Also contributing to the good news is the Institute for Supply Management’s non-manufacturing ISM Index report which was released at 10 am today and featured a rise from 51.5% in August to 53.2% in September.

The higher market is helping our Buy List. Jos. A. Bank (JOSB) just reached an all-time high, breaking through $45. It’s now up 60% for us year-to-date. Moog (MOG-A) is having a very nice day. The shares are up about 6%.

Gold is very strong and it’s close to $1,340 an ounce.

The market is looking nervously at Friday’s jobs report. We’ll get a preview of the jobs report tomorrow at 8:15 when the ADP report comes out (ADP is a private payroll firm).

Posted by on October 5th, 2010 at 1:01 pm


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.