SPX 3246.59 +9.67
The day was crazy, but so was the news. The whole world is off its medication, and the markets can't decide if it wants to believe Jekyll or Hyde.
Actually, this market is more like Sybil (than Jekyll and Hyde). Sybil was a real woman from Minnesota (just like the other crazy – Ilhan Omar) named Shirley Mason who had 16 different personalities/possessions. Minnesotans, what is in your water? :)
The market seems to have at least 16 personalities too. We saw a bunch emerge yesterday.
The market opened lower and staged a good jump higher, having some in the media think we formed a bottom. Then during a press conference, Trump had to run out for a emergency call. What could it be?
We had the market pump-and-dump on the potential for a second round of covid stimulus cash. The democratic party seems to have over reached on their wants and wish lists for all kinds of pork in the bill, and the republicans turned them down. Thinking it would backfire on republicans, the democrats didn't care. Public opinion, surprisingly, is not blaming the President or the republicans, so now the democrats are under pressure to get something done by the election.
PELOSI and MNUCHIN
The markets climbed, but fell once again after a report came out that there were no meetings schedule for Pelosi and Mnuchin to talk about the stimulus.
There were a lot of other things concerning the markets, including an asteroid the size of a school bus buzzing past earth today. Was it going to hit the earth and turn humans into dinosaurs 2.0? Was this why Trump had to leave the meeting fast? Seriously, I never understood why the end of the world has people selling stocks/money sitting in cash going to help you when all earth's vegetation is gone? Only bullets, beans and band-aid will matter.
Up until the close, the market was jumping above and below the unchanged line with no clear direction. After several days of very heavy selling, we did not see a definitive bottom; however, we did see a modest close higher. The SPX closed up 9.75 (0.30%), the Dow closed 52 points higher (0.20%) and AAPL closed higher by $1.10 (1.03%).