Friends

The wild ride continues. Stocks were recovering modestly from yesterday's selloff when the President announced that there would be no bombing tonight and once again that a deal with Iran might be close at hand. Stocks took off after that, and the market averages erased yesterday’s losses. We know that things can change quickly, but market participants were pleased with today’s developments.

By the close, the Dow Jones Industrial Average was up 929 points to finish the day at 50,848. The S&P 500 was up 127 points to close at 7,394. The Nasdaq Composite Index was up 640 points to close at 25,809. Gold was up $95 to trade at $4,228 per ounce, while oil was down $3.71 to trade at $86.32 per barrel WTI.

Ok, tomorrow we get the enormous SpaceX IPO. It may take a long time to get the opening trade, but it will be fascinating to watch. We’ll let you know how the week finishes off tomorrow.

Have a nice evening everyone.

Jim