Friends
Not surprisingly, Nvidia’s earnings after the close yesterday were fantastic. Also, not a real surprise that the share reaction was muted. By the close the shares were slightly higher, but it was the boring old Dow Jones Industrial Average that led stocks higher today. Stocks like Home Depot, Caterpillar, Merck, and Goldman Sachs were the big winners today.
As for the rest of the market, by the close the aforementioned Dow Jones Industrial Average was up 461 points to finish the day at 43,870. The S&P 500 was up 31 points to close at 5,948. The Nasdaq Composite Index was up 6 points to close at 18,972. Gold was up $21 to trade at $2,672 per ounce, while oil was up $1.48 to trade at $70.23 per barrel WTI.
It was kind of nice to see a rotation away from the same stocks that go up every day to ones that often have been left behind. In my mind, the bulls still hold the high ground as we head into holiday season. In the meantime, let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
Jim
