Diamonds and Dogs

10/4/24

The economic numbers also helped banks and financials, the top sector in the S&P 500 (XLF) today, surging 1.6% and closing at a record high. Wells Fargo (WFC) rose more than 3% today while the JP Morgan, Bank of America and Citigroup rose over a percent. Regional banks, M&B rose 3%, Key was up 2% and the insurance stocks also performed well with AIG up 3%.

Tesla's rival, Rivian (RIVN) fell 3% not far from a 52 week low after missing quarterly production and delivery numbers while also lowering annual production numbers from 57,000 vehicles to 48,000. Part of the problem is shortage of a shared component on the R1 and RCV platforms.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.