Friends

Stocks seesawed back and forth today but were able to post modest gains at the close. Software stocks were once again the source of funds during today’s session while financials were the recipients of funds. We’ll get a look at the Fed minutes from last month’s FOMC meeting and another look at inflation with Friday’s PCE (personal consumption expenditure) number.

As for today, by the close the Dow Jones Industrial Average was up 32 points to finish the day at 49,533. The S&P 500 was up 7 points to close at 6,843. The Nasdaq Composite Index was up 31 points to close at 22,578. Gold was down $151 to trade at $4,894 per ounce, while oil was down $.56 to trade at $62.33 per barrel WTI.

It’s been a somewhat bumpy ride for stocks as we’ve seen a rotation out of AI driven growth names into financials, industrials, materials and even some consumer staples. Let’s see it that continues during this shortened trading week.

Have a nice evening everyone.