Despite market swings, Lubbock economy strong - FOX34 Lubbock

Despite market swings, Lubbock economy strong

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LUBBOCK -

There have been several days of wild swings in the market recently. The Dow Jones Industrial Average climbed more than 1,900 points Friday. And the gains doubled during President Trump's news conference, which started about half an hour before the close.

The Dow posted a 9.4 percent gain Friday, its best since October 2008. It was a similar climb for the S&P 500 and the NASDAQ.

While the markets gained back most of Thursday's losses, the shock waves from losing concerts, events and sports will continue to ripple through the economy, including in Lubbock.

"Our economic pillars are health care, education, and agriculture, they're strong," said James Arnold, president of American Bank of Commerce. "Our economy is solid, on solid footing. We'll feel the effects of this, there's no doubt. But I think maybe Lubbock might feel the effects a little less harshly than some other markets."

Arnold emphasizes, regardless of whether you're an investor, wash your hands, do not panic and we will all get through this. 

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