Friends
Hopes that a ceasefire brokered by President Trump between the Israeli’s and the Iranians will hold sent stocks nicely higher today. The market averages are starting to flirt with all-time highs again as we make our way towards the end of the 2nd quarter of 2025. Of course, global tensions could rise again at any moment, but for now market participants are comfortable to push stocks higher.
For the day, the Dow Jones Industrial Average was up 507 points to close at 43,089. The S&P 500 was up 67 points to finish the day at 6,092. The Nasdaq Composite Index was up 281 points to close at 19,912. Gold was down $57 to trade at $3,338 per ounce, while oil was down $3.65 to trade at $64.86 per barrel WTI.
We have seen an overwhelming bullish response to the surprisingly quick resolution of the Middle East conflict. Will the bulls be able to push the market averages to new highs as the quarter ends? We will see, but for the moment the bulls do control the high ground. I suspect it will be an interesting last few days of trading for the quarter. Stay tuned.
Have a nice evening everyone.
