Friends

Traders came back from the 3 day Easter weekend tan, rested, and ready. Despite all the geopolitical concerns, market participants were in a buying mood and stocks opened positive and gained momentum throughout the trading session. Over the last 6 weeks or so, rallies have been met with stiff resistance, but not today.

By the close, the Dow Jones Industrial Average was up 183 points to finish the day at 20,636. The S&P 500 was up 20 points to close at 2,349. Gold was down $4 to trade at $1,284 per ounce, while oil was down $.57 to trade at $52.61 per barrel WTI.

We start to get into the meat of earnings season over the next few weeks, so investors will have something to measure. We come into this earnings season with higher expectations than we have seen in a while so it is important that corporate America delivers the goods. Given the different stories that bonds and stocks have been telling, it will be important for stocks to prove that the gloomy outlook that bonds have been foretelling is wrong. Let’s see how the week develops. So far, the bulls are off to a good start.

Have a nice evening everyone.

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