Here we are again, back on the grind after a hard-earned weekend. I barely did anything the past couple days; I mainly got caught up on the TV I’d been missing. I’m pretty conventional; “Boardwalk Empire” and “Sons of Anarchy” are my two favorite shows right now. When I wasn’t catching up on old TV, I was watching new TV in the form of NFL football. Like I said, pretty lazy weekend.
There are two reasons I bring up my weekend TV activities. First, I’m feeling a little detached from the news, the way a person sometimes feels when they’ve been staring at a flat TV screen for way too long, and their brain sort of forgets that it inhabits a world of three-dimensional space. I think this problem is worse for me, because I am a stock index and typically take the form of a line chart on an X-Y axis.
Second, today’s news wasn’t much more exciting than the revelation that I watched a lot of TV this weekend. There’s still some hope out there that the Federal Reserve will continue to loosen monetary policy in hopes of reinflating the economy. The dollar continues to get weaker. Existing home sales rose 10 percent for September, but given all the legal trouble, who can be sure whether that increase can sustain itself?
On a related note: Banks continue to get beaten up. Bank of America is really taking it on the chin, mainly because of all the foreclosure muck-ups. It probably didn’t help matters that Barron’s is asking whether the stock could go to $2.50.
Anyway, like I said, kind of a ho-hum day. I gained 31 points — totally fine, but nothing rip-roaringly crazy. We’ll see if we get a little more action tomorrow.
The Dow Jones Industrial Average