Service Sector Growth
Stocks hit the high road again today after several days of loss, ending up 112 points. Why? Because the Service Sector was UP.
Bonds, oil and gasoline were unchanged.
The Dollar lost about 1 cent against the Euro.
Gold rose again to $1016 – poised for further rises (I hope.)
In the news today…..
Service Sector – grew in September. Why is this such big news? Because this is the first growth in 13 months. Good old American hard work and ingenuity is getting small businesses out to work, looking for those opportunities that exist out there. This is good news, but don’t get too excited. The Service Sector only accounts for a very small piece of the GDP pie.
Here are the last numbers for today:
Dow Jones 30 Industrial – 9600 (up 112 points)
10 Year Treasury Bond – 3.22% (no change)
Euro – $1.4648
Gold – $1016 (up $13)
Oil – $70.34 (up $0.39)
Gasoline – $1.75 (up $0.01)