Friends
Stocks started slow but picked up steam as the trading session unfolded. We had so much in terms of economic data and the Fed to deal with last week it appeared early that traders weren’t sure what direction to take. But the narrative still is that the inflation data that we saw last week should help provide a runway to lower interest rates later in the year. Of course, we will see.
In the meantime, for the day the Dow Jones Industrial Average was up 189 points to close at 38,778. The S&P 500 was up 41 points to close at 5,473. The Nasdaq Composite Index was up 168 points to close at 17,857. Gold was down $14 to trade at $ 2,334 per ounce, while oil was up $2.03 to trade at $80.48 per barrel WTI.
The markets are closed on Wednesday for the Juneteenth Holiday, so we only have four trading days this week. We’ll see if the bulls can continue to hold the high ground. Stay tuned.
Have a nice evening everyone.
