Friends
We had more great earnings reports and continued mixed reactions to them yesterday after the close and into today’s trading, but the overall market had an upward bias to it despite a disappointing GDP number. It appears that market participants are still comfortable that the Fed will give plenty of notice when they begin to tighten policy, and if the economy stumbles they will act accordingly.
As for today, by the close the Dow Jones Industrial Average was up 153 points to finish the day at 35,084. The S&P 500 was up 18 points to close at 4,419. The Nasdaq Composite Index was up 15 points to close at 14,778. Gold was up $28 to trade at $1,828 per ounce, while oil was up $1.22 to trade at $73.61 per barrel WTI.
The other big news today was the Robinhood IPO (initial public offering). The shares were richly priced at $38 per share and didn’t fare too well once trading began. More importantly, let’s see how the week finishes out tomorrow.
Have a nice evening everyone.
