Friends
What a crazy week this was. Today stocks moved back up again led by of all things an actual industrial name 3M. We have seen a little bit of everything with regards to earnings so far this quarter. The big tech names have faltered, but some of the left behind value names have come in better than expected. On the docket next week will be McDonald’s, Procter & Gamble, Allstate, Aflac, Boeing, Kraft Heinz, Anheuser-Busch, Apple, Intel, ConocoPhillips, Hershey, Cummins, Microsoft, and Amazon just to name a few.
As for today, by the close the Dow Jones Industrial Average was up 654 points to finish the day at 40,589. The S&P 500 was up 59 points to close at 5,459. The Nasdaq Composite Index was up 176 points to close at 17,357. Gold was up $30 to trade at $2,383 per ounce, while oil was down $1.62 to trade at $76.66 per barrel WTI.
It was a crazy roller coaster week, but at the moment, for the first time in a long time, I think the bears hold onto the high ground as we move into the end of the month of July. Let’s see how things unfold next week.
Have a great weekend everyone.
