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Pre-Debate Party

09-28-2020

The market was higher overnight and that continued in New York, with the indices gaining over 1% by midday. From there, the market climbed higher and then backed off some to close roughly1.5% higher.

Away from stocks, green paper was a bit weaker and fixed income was flat. The metals bounced, led by silver, which added about 3% compared to 1% for gold. The miners were pretty weak early on, although they picked up their heads to some degree over the course of the day, but ultimately they basically went nowhere.

Up (and Down) for Debate? I have no idea what precipitated today's rally in the market, other than the fact that the stock exchange was open. It will be interesting to see if there's any sort of volatility in markets precipitated by Tuesday night's faceoff. I don't know that there will be, but I'm curious to see what happens.