Friends

It was quite a day for stocks. It appears that we have a peace agreement pending with Iran and the AI trade appears to be alive and well. We have a Fed meeting this week which should be fascinating as new Fed Chair Kevin Warsh takes the reigns and in addition to all of that it’s a shortened trading week with Friday’s holiday.

For the day, the Dow Jones Industrial Average was up 468 points to finish the day at 51,671. The S&P 500 was up 123 points to close at 7,5554. The Nasdaq Composite Index was up 795 points to close at 26,683. Gold was up $102 to trade at $4,341 per ounce, while oil was down $3.45 to trade at $81.43 per barrel WTI.

Oil falling back will be an added ingredient to the Fed discussions this week as most of the Fed Governors appear to be fairly hawkish about inflation heading into the meeting. Buckle up, this should be an interesting day.

Have a nice evening everyone.

Jim