Friends

After the close yesterday we got earnings from Nvidia. They were good as usual, but the shares sold off slightly on some profit taking. The important thing was that the rest of the market found the report acceptable. Things began a bit dicey this morning, but by the afternoon the bulls were firmly in charge of the situation.

By the close, the Dow Jones Industrial Average was up 276 points to finish the day at 50,285. The S&P 500 was up 12 points to close at 7,445. The Nasdaq Composite Index was up 22 points to close at 26,293. Gold was up $5 to trade at $4,540 per ounce, while oil was down $.81 to trade at $97.45 per barrel WTI.

Today was a big test for stocks. The Nvidia earnings might have given the bears an opening. Not that they were bad, but only because expectations are so high. But the bulls were able to wrestle control of the situation and move all of the market averages higher. Let’s see how the week finishes out tomorrow.

Have a nice evening everyone.