Friends,

Word of a possible peace treaty with Iran sent stocks higher at the open and a successful IPO for SpaceX helped keep the good vibes flowing throughout the trading season. Of course, most of the media’s attention was on SpaceX and it’s easy to see why. The company soared past the $2 trillion valuation during trading and Mr. Musk himself soared above the $1 trillion net worth valuation. Let that sink in for a minute. Anyway, the SpaceX shares trading between $150 and $176 all afternoon. My guess is that it will be quite volatile for a while.

As for the rest of the market, by the close the Dow Jones Industrial Average was up 353 points to finish the day at 51,202. The S&P 500 was up 37 points to close at 7,431. The Nasdaq Composite Index was up 79 points to close at 25,888. Gold was up $112 to trade at $4,226 per ounce, while oil was down $3.34 to trade at $84.37 per barrel WTI.

Ok, we have the SpaceX IPO behind us, next up is Chat GPT/Open AI. These mammoth IPOs are certainly garnering a lot of attention. In the meantime, stocks are hanging in there. We’ll marinate a few ice cubes this weekend and be back with you on Monday.

Have a great weekend everyone.

Jim