Friends
I hope you were able to join us for our zoom conference call today. For those who were not able to attend we’ve enclosed a link for you to view if you so wish. As for today in the markets, the CPI number came in about as expected. Year over year inflation is now running at about 6%. That’s still too high but nevertheless continues to slow, down from the high of 9% we saw last year. Given the proceedings of the last several days, it just might be the case that recent inflation numbers might be almost useless. We’ll see what the Fed thinks next week.
Stocks were indecisive but did finally finish nicely higher with the Dow Jones Industrial Average up 336 points to close at 32,155. The S&P 500 was up 64 points to finish the day at 3,920. The Nasdaq Composite Index was up 239 points to close at 11,428. Gold was down $4 to trade at $1,909 per ounce, while oil sank $3.43 to trade at $71.37 per barrel WTI.
Bonds continued their wild ride with the 2-year note moving back up to 4.22% by the close after falling below 4% yesterday. I’ll stop here. If you want to hear more from me, you can view the zoom call below.
Have a nice evening everyone.
