Friends

Just when I thought the bears had given up for the time being, they made a surprise attack today. Walmart’s concerns over tariffs and hot stocks Palantir and Meta’s recent slides finally took its toll on the market averages today. We heard speeches from 3 different Fed officials today too, and basically, they seem to be in a “let’s see how all this tariff talk plays out mode” before they change existing monetary policy.

As for today, by the close the Dow Jones Industrial Average was down 450 points to finish the day at 44,176. The S&P 500 was down 26 points to close at 6,117. The Nasdaq Composite Index was down 93 points to close at 19,962. Gold was up $15 to trade at $2,951 per ounce, while oil was up $.28 to trade at $72.53 per barrel WTI.

Ok, the bears are back in the picture. Will the bulls try to make a stand and keep the hard fought rather small gains they have achieved this year to date? Let’s see how the week finishes up tomorrow.

Have a nice evening everyone.

Jim