Do You Believe in the Curse of Friday the 16th? - Gainesville Coins News
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Do You Believe in the Curse of Friday the 16th?

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Do You Believe in the Curse of Friday the 16th?

Here's your Week in Review for October 16th, 2015—an interesting anniversary:

  • On this date in 1987, also a Friday and also an options expiry, the Dow Jones saw its worst single-day losses up to that point, plunging 108 points (almost 4.5% at the time). The following Monday (October 19th, 1987) lives on in infamy as "Black Monday," when the Dow Industrials sank an unparalleled 22% in the session.
  • Global stocks opened in the green nearly across the board on Friday.
  • Shares of shoe company Skechers (NYSE:SKX) plummet Friday, losing more than 2/3 of their value (-66.7%).

looking-ahead

  • Although stock options actually expire tomorrow, today is the last day of trading before the current options expiry. Gold options don't expire until October 27th.
  • Spot gold gains over 1.8% on the week, erasing its losses so far in 2015.
  • The U.S. trade deficit, measured over the fiscal year ending September 30th, fell 9% year-on-year to its lowest levels since 2007.
  • Factory output in the U.S. falls for the second consecutive month in September.
  • Stock buybacks may be losing their luster: even after Wal-Mart (NYSE:WMT) announced $20 billion in repurchases, shares of the company's stock had their worst daily performance in years.

About the Author

Everett Millman

Everett Millman

Analyst, Commodities and Finance
Managing Editor

Everett has been the head content writer and market analyst at Gainesville Coins since 2013. He has a background in History and is deeply interested in how gold and silver have historically fit into the financial system.

In addition to blogging, Everett's work has been featured in CoinWeek, Advisor Perspectives, Wealth Management, Activist Post, and has been referenced by the Washington Post.

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