Stocks rose on steadily today with the Dow Jones Industrial Average leading the major indexes with a 258 point gain, up exactly one percent. The S&P 500 was up 0.65%, and the NASDAQ finished up 0.38%. Big gainers driving the Dow were United Health, Pfizer, Nike, and United Technologies.
The gains piled up slowly despite a slow start and continued concern over a deepening yield curve inversion. The 2-year/10-year spread is at its widest point since 2007. International news did nothing to buoy investor confidence either.
U.K. prime minister Boris Johnson got his wish when the Queen agreed to grant his request for an extension of Parliament suspension. The suspension will now extend to October 14th, just over two weeks before the hard Brexit deadline. The suspension decreases the chances that remainers might mount efforts to create a new trade deal.
Subscribe to our evening newsletter to stay informed during these challenging times!!