Friends

It was a very good day for stocks as the market averages all moved higher despite both oil prices and interest rates also moving higher. The move was broad based with AI related plays receiving much of the buying. Market participants chose to ignore the hostilities (and the bombing) ramping up again in Iran and instead focused on good earnings from the likes of GM and 3M.

For the day, by the close the Dow Jones Industrial Average was up 385 points to finish the day at 52,224. The S&P 500 was up 65 points to close at 7,509. The Nasdaq Composite Index was up 329 points to close at 25,837. Gold was up $71 to trade at $4,087 per ounce, while oil was up $1.76 to trade at $84.99 per barrel WTI.

We still have Google, IBM, Intel and Tesla reporting this week and then Apple, Amazon, Coca-Cola, Boeing, Microsoft, Meta, Procter & Gamble, Mastercard, Exxon, AbbVie, and Chevron all reporting next week. Let’s see if earnings continue to justify stock prices.

Have a nice evening everyone.

Jim