Friends

While the whole investment community awaits Nvidia’s earnings after the close, stocks in general had a very good day. Oil prices dropped and the yield on the long bond dropped giving the bulls something positive to work with. We also got a look at the recent Fed minutes and suffice it to say that inflation is front of mind. Let’s hope Nvidia lives up to the expectations.

As for today, by the close the Dow Jones Industrial Average was up 645 points to finish the day at 50,009. The S&P 500 was up 79 points to close at 7,432. The Nasdaq Composite Index was up 399 points to close at 26,270. Gold was up $39 to trade at $4,550 per ounce, while oil was down $5.94 to trade at $98.21per barrel WTI.

Nvidia’s earnings are not only about Nvidia but also about the whole AI infrastructure buildout. The pin action is immense. Let’s see how it all plays out this afternoon and during tomorrow’s trading session. Stay tuned.

Have a nice evening everyone.