Tesla and Apple were strong out of the gate this morning, but as the trading session wore on, they handed the baton off to the rest of the market and a nice broader advance ensued. Apple actually has its stock split after the close today so it was able to hold on to a gain, but Tesla finally ran out of gas/power.


By the close, the Dow Jones Industrial Average was up 378 points to finish the day at 28,308. The S&P 500 was up 34 points to close at 3,431. The Nasdaq Composite Index was up 67 points to close at 11,379. Gold was down $13 to trade at $1,933 per ounce, while oil was down $.01 to trade at $42.33 per barrel WTI.


As we have mentioned, the stock market is on a journey of its own at the moment, divorced from the reality of a struggling economy, and fueled by Fed liquidity. We are encouraged when the advance broadens a bit, but investors seem to default to the same handful of growth companies over and over again. This has been an amazing year already, as we have endured a vicious quick bear market and then a remarkable recovering bull market. And, we still have four more months to go. Stay tuned.


Have a nice evening everyone.

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