The Gilmo Report

November 3, 2019

November 2, 2019

A news-laden week came to an end with the NASDAQ Composite Index joining the S&P 500 in all-time high price ground. Among what I call the Big Three market indexes, only the Dow has yet to make new highs of its own.

 

 

This latter half of the week was chock-full of economic data, starting with the ADP Employment report on Wednesday, which came in at 125,000 jobs vs. estimates of 100,000. There was also third-quarter GDP growth of 0.48%, annualizing at a “blistering” 1.9%. The big event of the day was of course the Fed, which lowered rates another 25 basis points as expected, while indicating that they were on hold for now.

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