Friends

Stocks tried to push higher at various intervals during today’s trading session, but in the end some traders were just not comfortable holding into the 3-day weekend. Nasdaq led by Apple, Meta and Nvidia was able to hold onto gains, but those gains were trimmed by the close.

For the day, the Dow Jones Industrial Average was down 165 points to close at 44,546. The S&P 500 was down a fraction to close at 6,114. The Nasdaq Composite Index was up 81 points to close at 20,026. Gold was down $54 to trade at $2,890 per ounce, while oil was down $.60 to trade at $70.69 per barrel WTI.

As the headlines continue to come fast and furious, traders continue to try and navigate the consequences of it all. All in all, the bulls should be emboldened, as despite attempts to disrupt the trend, the market averages are higher for the year. Remember the markets are closed for President’s Day on Monday. We’ll be back with you on Tuesday.

Have a great 3-day weekend everyone.

Jim