Friends
Both Google and IBM delivered very nice earnings reports after the close yesterday and helped spur the Dow Jones Industrial Average to a new five year high and just hundreds of points shy of all-time highs. After the close today we will get the earnings of Apple, among others, as the earnings train continues to roll. Also today, the House passed the “lets delay the debt ceiling argument” bill, which may give traders a few more restless months before we decide as a country whether to pay our bills or not.
Anyway, for the day, the Dow Jones Industrial Average was up 66 points to close at 13,779. The S&P 500 was up 2 points to finish the day at 1494. Gold was down $7 to trade at $1685 per ounce, while oil was down $1.06 to trade at $95.62 per barrel WTI. Yes, the Dow had a nice day, but the advance was narrow as indicated by the small gain in the S&P 500.
IBM was the main reason the Dow was up today, and with the likes of Apple and Netflix reporting after the close today, it is likely that the NASDAQ will be lively tomorrow. We’ll let you know how the reports shake out.
Have a nice evening everyone.
