Friends
Despite the drama at the Fed, market participants still moved stocks higher during today’s trading session. The big market moving event this week will be the earnings release from Nvidia tomorrow after the close. As we mentioned, expectations are high, but this company has been hitting on all cylinders for quite some time now. So, we will see.
As for today, by the close the Dow Jones Industrial Average was up 135 points to finish the day at 45,418. The S&P 500 was up 26 points to close at 6,465. The Nasdaq Composite Index was up 94 points to close at 21,544. Gold was up $20 to trade at $3,438 per ounce, while oil was down $1.45 to trade at $63.35 per barrel WTI.
The belief that the Fed will begin embarking on a new round of monetary easing starting in September still is the prevailing narrative in the market at the moment. Let’s see how the back end of the week goes after the Nvidia release.
Have a nice evening everyone.
