Friends

Stocks tried to recover some of yesterday's losses, but the Nasdaq just wouldn’t cooperate. Though we are experiencing another stellar earnings season, share prices appear to have been stretched and of course there continues to be mighty macro headwinds. Both oil prices and interest rates backed off a little today, and that did help, but in the end, it was a tough week for stocks.

For the day, the Dow Jones Industrial Average was up 235 points to close at 51,947. The S&P 500 was up 3 points to finish the day at 7,411. The Nasdaq Composite Index was down 161 points to close at 24,975. Gold was up $9 to trade at $4,059 per ounce, while oil was down $2.80 to trade at $89.39 per barrel WTI.

We still have a busy earnings week ahead as we will hear from Visa, Coca-Cola, Boeing, UPS, Microsoft, Meta, P&G, Apple, Amazon, Mastercard, Exxon, AbbVie, and Chevron, just to name a few. As always, we will have to monitor what is transpiring overseas and I’ll be keeping a close eye on that bond market and interest rates. In the meantime..

Have a great weekend everyone.

Jim