Friends
We mentioned yesterday that we are getting oversold again and that we could see a nice rally at some point this week. Well, we got that rally today which basically just recouped what we lost yesterday and a little more. Nevertheless, as I have mentioned a few times recently, it’s just nice to see stocks go up. Could this be a sustainable rally? Anything is possible but hopes that some tariff deals are imminent could be dashed at the blink of an eye, so we won’t get ahead of ourselves.
For the day, the Dow Jones Industrial Average was up 1,016 points to close at 39,186. The S&P 500 was up 129 points to finish the day at 5,287. The Nasdaq Composite Index was up 429 points to close at 16,300. Gold was down $39 to trade at $3,386 per ounce, while oil was up $1.12 to trade at $64.20 per barrel WTI.
While tariff talks go on, we continue to get corporate earnings releases and so far, it’s kind of a mixed bag. We will get a look at Tesla’s earnings after the close today. That one should be interesting. As I said let’s just enjoy the nice rally today and get ready to get after it tomorrow.
Have a nice evening everyone.
Jim
