Markets were closed all day Monday and today, and it looks like the NYSE is targeting an opening bell on Wednesday. Precisely, I can not say what stocks would have done Monday, but the market gave every indication it wold have been solidly in the green. The Commerce Department gave a somewhat conflicting report to the many poor company earnings numbers noting that consumer spending levels rose to .8% in September (expected .6%) to the highest point in 7 months. That said, saving dropped 3.3%, so it will likely result in a drop in future spending.
The Federal Reserve Bank of Chicago posted a .4% drop in its manufacturing index. A number like that isn't unexpected considering the consistent decline in US manufacturing, but the numbers are likely to impact the market nonetheless.
I am annoyed with myself for not taking some of my own advice. PG&E announced a profit of 364 million which is up from 203 at the same point last year. However, I am not unhappy enough with my portfolio to make any immediate changes. I assume it will get an adrenaline rush on Wednesday, and I will reassess from there.
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