Friends
The President was able to calm the market’s concerns over a tariff escalation with China, and the market averages responded by posting some nice gains, recovering about half of Friday’s losses. Next up on the calendar is earnings season which begins in earnest this week with reports from many of the big banks.
As for today, by the close, the Dow Jones Industrial Average was up 587 points to finish the day at 46,067. The S&P 500 was up 102 points to close at 6,654. The Nasdaq Composite Index was up 490 points to close at 22,694. Gold was up $127 to trade at $4,128 per ounce, while oil was up $.75 to trade at $59.65 per barrel WTI.
With regards to those earnings releases, we will hear from JP Morgan Chase, Goldman Sachs, Wells Fargo, Citigroup and BlackRock tomorrow, along with J&J and Domino’s. On Wednesday we’ll hear from Morgan Stanley, Abbott Labs and United Airlines. Thursday brings us reports from Schwab, Bank of New York and U.S. Bancorp. Finally we’ll hear from American Express on Friday. A busy week ahead, stay tuned.
Have a nice evening everyone.
