Friends
Stocks recovered most of Friday’s losses as market participants shrugged off that disappointing jobs data and decided that the likelihood of Fed rate cuts is good for stocks. Of course, tomorrow might bring a different narrative, but for now the bulls regained the high ground.
By the close, the Dow Jones Industrial Average was up 585 points to finish the day at 44,173. The S&P 500 was up 91 points to close at 6,329. The Nasdaq Composite Index was up 403 points to close at 21,053. Gold was up $31 to trade at $3,431 per ounce, while oil was down $1.19 to trade at $66.14 per barrel WTI.
While many of the big tech names have reported earnings, we still will get many big-name companies reporting this week including AMD, Caterpillar, Amgen, Pfizer, BP, McDonalds, Disney, Uber, Lilly, Toyota, and Conoco. Last week was loaded with market moving data. This week will be a little lighter, but market participants still have to digest all of last week’s information. Stay tuned.
Have a nice evening everyone.
