Friends

Stocks were mixed again with the Dow moving nicely higher this time while the Nasdaq slumped. Defense stocks bounced back after the President released his hopes for a $1.5 trillion dollar defense budget for 2027. But tech stocks once again faltered as they continue to seesaw back and forth on a daily basis.

By the close, the Dow Jones Industrial Average was up 270 points to finish the day at 49,266. The S&P 500 was up a fraction to close at 6,921. The Nasdaq Composite Index was down 104 points to close at 23,480. Gold was up $22 to trade at $4,484 per ounce, while oil was up $2.64 to trade at $58.65 per barrel WTI.

Tomorrow we will get the all-important non-farm jobs payroll report for December. Market participants want a goldilocks release- not too hot and not too cold. Too good could mean monetary easing would be put on hold. Really bad would bring questions about the overall health of the labor market. It should be an interesting day of trading. We’ll let you know how the week finishes out tomorrow.

Have a nice evening everyone.