Wall Street didn't hear much new from the presidential candidates about the economy during the debate last night. Democrat Hillary Clinton said she will grow the American economy by focusing on the middle class and building the largest job-creation program since World War II. She said she wants to create new clean energy jobs. Republican Donald Trump promised to cut taxes and renegotiate trade deals that he has have hurt American manufacturing. Tesla Motors ( (TSLA) ) says its electric cars will be the first in the nation to all be fitted with the hardware needed to drive themselves. CEO Elon Musk says the Model S, X, and forthcoming Model 3 Sedan will start being outfitted with full driving self driving capability. Oil prices are retreating as profit taking sets in. Crude oil prices hit a 15 month high Wednesday on a bigger than expected draw in U.S. stocks and an expectation of an OPEC led cut in production.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.