Friends
Last year the Nasdaq 100 was down about 33%. This year so far, the Nasdaq 100 is up about 17%. Let that sink in for a moment. Meta (Facebook) was the leader today after a surprisingly good earnings report and an encouraging outlook which finally included expense controls, pushing the Nasdaq higher once again. Today after the close we get earnings from Apple, Google, and Amazon, so we will see if large cap tech momentum will continue into tomorrow.
As for all the market averages, by the close the Dow Jones Industrial Average was down 39 points to finish the day at 34,053. The S&P 500 was up 60 points to close at 4,179. The aforementioned Nasdaq was up 384 points to close at 12,200. Gold was down $15 to trade at $1,927 per ounce, while oil was down $.63 to trade at $75.78 per barrel WTI.
As mentioned, it has been a tremendous start to the year for stocks in general, but specially the Nasdaq. This afternoon’s earnings reports should tee us up for tomorrow’s action. We’ll let you know how the week finishes out tomorrow. Stay tuned.
Have a nice evening everyone.
