Dear Diary,
The numbers just keep going up, my friend. Of course, that’s what happens when two blue-chip companies report super-solid third-quarter earnings. JPMorgan Chase handily beat expectations when it reported this morning, and Intel had similarly rosy results yesterday after the stock market closed.
Both those stocks underperformed, but their positive results seemed to inspire the rest of my index. Although JPMorgan finished the day down slightly, CEO Jamie Dimon said the credit-card business was on a rebound. American Express, another of my stocks, rose 1.9 percent. Commodity prices increased too, which could be a sign that the global economy is awakening from its slumber. After all, you need raw materials if you’re going to build stuff. And you know what building is? It’s economic activity.
Anyway, who really cares what else happened! The important thing is I tacked on 76 points today, reaching levels I hadn’t seen since the merry month of May. I haven’t had such heady feeling since the Kentucky Derby. I think I’ll make myself a mint julep.
Toodle-oo,
The Dow Jones (DJIA) Industrial Average
