Friends
We had a bit of a reversal of fortune today as the Dow Jones Industrial Average was able to move higher while the S&P 500 treaded water, and the Nasdaq retreated. We had more earnings reports from retailers, with Target totally laying an egg, while TJX did just fine. We talked about winners and losers in the retail space, and it appears that Walmart is the clear winner at the moment while Target is on the losing end.
As for the markets in general, by the close the Dow Jones Industrial Average was up 139 points to finish the day at 43,408. The S&P 500 was basically unchanged at 5,917. The Nasdaq Composite Index was down 21 points to close at 18,966. Gold was up $20 to trade at $2,651 per ounce, while oil was down $.44 to trade at $68.95 per barrel WTI.
All eyes are on Nvidia’s earnings after the close. It will likely have an effect on tomorrow’s action. We’ll let you know how they do and how the market reacts. Stay tuned.
Have a nice evening everyone.
Jim
