Friends

Stocks struggled today, as tech names SanDisk, AppLovin, and Western Digital all saw their shares sell off after earnings reports. Oil prices did rise also as uncertainty about Iran continues. I think we might have seen some simple profit taking after a big move in the market averages the past few days. There’s nothing wrong with digesting some of those gains.

As for today, by the close the Dow Jones Industrial Average was down 464 points to finish the day at 53,885. The S&P 500 was down 13 points to close at 7,709 . The Nasdaq Composite Index was down 15 points to close at 26,348. Gold was down $12 to trade at $4,292 per ounce, while oil was up $2.73 to trade at $77.95 per barrel WTI.

Remember we get the all-important non-farm payroll number tomorrow. Analyst are expecting about 80,000 new payrolls were added in July. Let’s see how the week finishes out tomorrow.

Have a nice evening everyone.

Jim