Friends

It was another sloppy day for stocks. The high-flying chip stocks struggled as a result of OpenAI considering delaying its IPO, possibly to next year, given the relatively poor performance of SpaceX shares after the initial hype. As we near the end of the quarter, earnings season will start to come into focus. There will be a lot on the line this earnings season. As you know, corporate earnings have been stellar so far this year.

As for today, by the close the Dow Jones Industrial Average was down 44 points to finish the day at 51,876. The S&P 500 was down 3 points to close at 7,353 . The Nasdaq Composite Index was down 60 points to close at 25,297. Gold was up $36 to trade at $4,084 per ounce, while oil was down $2.63 to trade at $69.29 per barrel WTI.

Just two more trading days left in the quarter. Let’s see if the bulls are able to hold the high ground. Their advantage seems a bit tenuous to me. Stay tuned.

Have a great weekend everyone.

Jim