Friends

It was somewhat of a mixed bag with regards to the market averages as tech continues to drive the Nasdaq while the Dow saw little action. This morning’s non-farm payroll number was better than expected as 115,000 new jobs were created in April vs the 55,000 expected by analysts. The unemployment rate held steady at 4.3%. In other news, market participants are hoping that some sort of a peace deal will be hammered out soon.

As for today, by the close, the Dow Jones Industrial Average was up 12 points to finish the day at 49,609. The S&P 500 was up 61 points to close at 7,398. the Nasdaq Composite Index was up 440 points to close at 26,247. Gold was up $22 to trade at $4,733 per ounce, while oil was up $.57 to trade at $95.38 per barrel WTI.

As we close out the week, we have stock market averages at or near all-time highs, impressive corporate earnings, and stability on the labor front. On the other side of the ledger, we have much higher prices at the gasoline pump, sticky inflation in general and a war in the Middle East in which the U.S. is a major participant. Nevertheless, the bulls are firmly entrenched on the high ground.

Have a great weekend everyone.