Friends

The dogs were barking today. On this first trading day of the 3rd quarter we saw many of the “dogs of the Dow” lead the market average higher. Stocks that have not done much all year finally saw a little buying support from market participants. Will it last? Who knows, but I won’t be surprised to see the magnificent seven leading the market averages higher in days and weeks to come.

Anyway, by the close only the Dow was higher for the day up 400 points to close at 44,495. The S&P 500 was down 6 points to close at 6,198. The Nasdaq Composite Index was down 166 points to close at 20,202. Gold was up $43 to trade at $3,350 per ounce, while oil was up $.54 to trade at $65.65 per barrel WTI.

Remember because of the 4th of July holiday it is a shortened trading week. The non-farm payroll number will come out on Thursday instead of Friday this month. I would not be surprised to see trading become lighter over the next two days as traders head off to the holiday weekend destinations. Of course, we’ll be here to let you know how the week plays out. Stay tuned.

Have a nice evening everyone.