Mike’s Morning Brief: A fast-break rundown of what’s going on.
Market opened in the green again as volatile price action continues with the closing of September this week. It’s been a wild month. The DOW is 2% off its all-time high reached in August while the S&P just 1.5% off its record. The NAS hit a new, all-time high last week. Interest rates have settled back down after the Fed meeting with the 10-Year yield at 1.5%. Janet Yellen will be speaking on Capitol Hill today. There are other Fed members that are speaking today around the country. Investors will monitor closely to see what the December meeting might entail. The formal start to Earnings Season is 2 weeks away, so news flow will slow before. Economic data is taking a break for the time-being. The big focus is centered around the November election. Crude oil is higher, as is the Dollar and Gold is lower in early trading.
Monday’s Presidential debate had a record audience. The event recorded 83.7 Million viewers, topping the debate between 1980 candidates Jimmy Carter and Ronald Reagan, which was 80 Million viewers. That one is more impressive still considering the population is up over 30% since 1980. According to Nielsen’s current numbers, the Big Four broadcast networks – NBC, ABC, CBS and FOX – drew 49.1 Million viewers, up about 25% from the first 2012 debate between Obama and Romney.
Have a great day,