Friends

The President hurled a threat at Europe this morning to start negotiating in good faith or big tariffs are coming June 1st. In addition, the President let Tim Cook at Apple know that he wants iPhones made here in the USA. Those saber-rattling comments sent stocks lower as market participants were looking to get an early start on the holiday weekend.

By the close, the Dow Jones Industrial Average was down 256 points to finish the day at 41,603. The S&P 500 was down 39 points to close at 5,802. The Nasdaq Composite Index was down 188 points to close at 18,737. Gold was up $70 to trade at $3,365 per ounce, while oil was up $.52 to trade at $61.72 per barrel WTI.

As we enter this 3-day holiday weekend, let’s remember those who fought for this country and lost their lives. We are forever grateful.

Have a great Memorial Day Weekend everyone.