Friends

Hopes that the war with Iran is back on hold sent oil prices lower and stock prices higher during today’s trading session. Of course, this story can change at any time, so these types of rallies are susceptible. But corporate earnings have been good, and the market averages are still within reach of all-time highs.

By the close, the Dow Jones Industrial Average was up 693 points to finish the day at 53,178. The S&P 500 was up 110 points to close at 7,600. The Nasdaq Composite Index was up 540 points to close at 25,913. Gold was down $3 to trade at $4,103 per ounce, while oil was down $4.17 to trade at $80.50 per barrel WTI.

We will get all-important jobs data this week. Good jobs data would give the Fed more cover to raise interest rates in September. But there is a lot of data to come before the next meeting so we will see. It should be an interesting week of trading. Stay tuned.

Have a nice evening everyone.

Jim