That’s the headline as we post our blog at 5:20 PM. After the many days of the yes/no strife in the Congress, the market seems to belief that the U. S. Treasury will avoid default. This is the inference of today’s 1.38 percent advance of the S&P500.
As our diagram reveals, it is rare to see daily gains this large. Only four such days occurred before September 30.
Yet the S&P500 added some 2.18 percent just days ago, on October 10, while the federal shutdown remained unresolved.
It seems safe to conclude that the stock market remained firm, that stockowners stayed calm, throughout these uncertain days, since the recent profile of the S&P500 remained unchanged from the first nine months of this year.
DJIA 1.36 percent
NASDAQ 1.20 percent
S&P500 1.38 percent
