Friends

Market participants were pleased with the earnings report from Space X this morning, and after the close we get a look at Meta’s quarterly report card. The shares have had a good run in recent weeks so it will be important that the earnings meet expectations. Back to Space X for a moment, as investors were pleased with the revenue from the satellite business as well as their growing AI business, Musk addressed the possibility of Space X acquiring Tesla which we have mentioned before, and coincidentally we get Tesla earnings tomorrow.

As for today, by the close the Dow Jones Industrial Average was up 360 points to finish the day at 52,856. The S&P 500 was up 44 points to close at 7,757. The Nasdaq Composite Index was up 278 points to close at 26,702. Gold was up $5 to trade at $4,147 per ounce, while oil was down $.26 to trade at $97.56 per barrel WTI.

It’s early, but so far so good with regards to earnings season. Expectations are high, so as always, we are focused on how stocks react to the numbers as much as the numbers themselves. Let’s see how the rest of the week plays out.

Have a nice evening everyone.

Jim