Friends
Stocks got off to a decent start as we move into the second half of 2024 but again in a very narrow manner as small and mid-cap stocks faltered as well as the equal weighted indices. But Amazon, Microsoft and Apple continue to be select generals moving the market averages higher.
By the close, the Dow Jones Industrial Average was up 50 points to finish the day at 39,169. The S&P 500 was up 14 points to close at 5,475. The Nasdaq Composite Index was up 146 points to close at 17,879. Gold was up $1 to trade at $2,340 per ounce, while oil was up $1.96 to trade at $83.50 per barrel WTI.
As mentioned earlier, other indices didn’t fare so well. The Russell 2000 was down .84%, midcaps as measured by the MDY ETF were down 1% and the equal weighted S&P 500 as measured by the RSP ETF was down .81%. The S&P 500 up .27% while the equal weighted S&P 500 was down .81% illustrates the amazing power of a few mega cap stocks.
Anyway, off we go on the adventure that will be the second half of 2024. Buckle up, it could be a thrilling ride.
Have a nice evening everyone.
