Friends

The Dow had a nice day with good earnings reports from Sherwin-Williams and Coca-Cola leading the way, but the Nasdaq struggled once again as it has for a few weeks now. The big semiconductor chip names continue to struggle with the likes of Micron and AMD down big today. Oil prices continued lower which was a nice tailwind for stocks and bonds have been quiet in recent days. Remember, in addition to more big earnings reports this week we have a Fed meeting going on. As mentioned, I don’t think there will be a move on interest rates, but market participants are not sure.

As for today, the Dow Jones Industrial Average was up 537 points to close at 52,747. The S&P 500 was up 15 points to finish the day at 7,428. The Nasdaq Composite Index was down 55 points to close at 24,876. Gold was down $52 to trade at $4,024 per ounce, while oil was down $3.62 to trade at $78.99 per barrel WTI.

We have sectors in the market moving in opposite directions. The next couple of days will be important for growth companies with releases from many big tech names. Stay tuned.

Have a nice evening everyone.

Jim