Friends
While some of the super stars of the past year take a bit of a breather, some of the old guard names in the Dow are helping to keep the dream alive for the bulls. As we have pointed out it is nice to see something other than Nvidia work for market participants. In the meantime, the debate continues as to when the Fed might begin to cut interest rates as we meander towards the end of the quarter.
As for today, by the close the Dow Jones Industrial Average was up 260 points to finish the day at 39,411. The S&P 500 was down 16 points to close at 5,447. The Nasdaq Composite Index was down 192 points to close at 17,496. Gold was up $14 to trade at $2,345 per ounce, while oil was up $.96 to trade at $81.69 per barrel WTI.
The bulls would likely be fine if the generals pause for a bit while some of the soldiers who have been left behind on the battlefield get a chance to move north for the first time in a long while. We’ll be watching to see if the bull market can broaden as we enter the second half of the year. I still have to see it to believe it.
Have a nice evening everyone.
