Friends

The wild chip stocks finally took a breather today, but the market averages were still able to post modest gains. At this point, we are posting new all-time highs with any move higher in the market averages. Oil moved lower and bonds were mostly quiet. All in all, the bulls are still firmly in control.

By the close, the Dow Jones Industrial Average was up 182 points to finish the day at 50,644. The S&P 500 was up 1 point to close at 7,520. The Nasdaq Composite Index was up 18 points to close at 26,674. Gold was down $51 to trade at $4,450 per ounce, while oil was down $4.46 to trade at $89.43 per barrel WTI.

Negotiations with Iran continue as market participants appear to be convinced that a favorable outcome is inevitable. Of course, war headlines could disrupt things at any moment, but for now things appear rather calm. Let’s see how the rest of the week goes.

Have a nice evening everyone.