Friends
Though it may not be as broad based as the bulls would like, stocks as measured by the market indexes moved higher once again today. It appears that the bulls have gotten the band back together with last year’s large growth names leading the way higher in recent trading sessions. Today, it was mainly Apple and a few other names doing the heavy lifting, but in the coming weeks I would think that the bulls would like to see more sectors and more names participating.
As for today, by the close the Dow Jones Industrial Average was up 138 points to finish the day at 38,001. The S&P 500 was up 10 points to close at 4,850. The Nasdaq Composite Index was up 49 points to close at 15,360. Gold was down $7 to trade at $2,022 per ounce, while oil was up $1.60 to trade at $75.01 per barrel WTI.
Again, we will see a lot of earnings this week and then Apple, Microsoft, Meta, Google, and other mega growth names next week. The Fed is not expected to do anything at least until March so I look for earnings to be the catalysts this week and especially next. Stay tuned.
Have a nice evening everyone.
