Friends

Stock moved lower again today despite some good earnings reports from more big banks. Tech stocks in general moved lower dragging the market averages down with them. There are a lot of headlines for market participants to deal with, but for the moment we will try to focus on earnings. The operative word there is “try”.

By the close, the Dow Jones Industrial Average was down 42 points to finish the day at 49,149. The S&P 500 was down 37 points to close at 6,926. The Nasdaq Composite Index was down 238 points to close at 23,471. Gold was up $36 to trade at $4,635 per ounce, while oil was down $1.61 to trade at $59.54 per barrel WTI.

The banks kick off earnings season, but we’ll start getting reports from other major players next week including, Netflix, 3M, United Airlines, J&J, Halliburton, GE, P&G, Abbot, and many others. The following week we will hear from Apple, Microsoft, Caterpillar, Meta, IBM, Tesla, Boeing, Visa, United Health, Union Pacific, Starbucks, GM, and many others. So, buckle up, it’s time to see Corporate America’s report card.

Have a nice evening everyone.